Benchmark Reaffirms “Buy” Rating for Malibu Boats (NASDAQ:MBUU)

Malibu Boats (NASDAQ:MBUU)‘s stock had its “buy” rating restated by research analysts at Benchmark in a research note issued on Tuesday,Benzinga reports. They presently have a $44.00 price objective on the stock. Benchmark’s price target would indicate a potential upside of 14.49% from the stock’s previous close.

A number of other brokerages also recently weighed in on MBUU. StockNews.com raised shares of Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. Robert W. Baird upped their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. KeyCorp decreased their price objective on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research note on Friday, November 1st. Finally, Truist Financial increased their price target on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Stock Up 3.0 %

NASDAQ:MBUU opened at $38.43 on Tuesday. The stock has a 50-day simple moving average of $38.61 and a 200 day simple moving average of $38.79. Malibu Boats has a one year low of $30.20 and a one year high of $50.39. The company has a market capitalization of $754.77 million, a price-to-earnings ratio of -8.83 and a beta of 1.33. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. Sell-side analysts predict that Malibu Boats will post 2.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Large investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC lifted its position in shares of Malibu Boats by 4.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock valued at $300,000 after acquiring an additional 311 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in shares of Malibu Boats by 11.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after buying an additional 368 shares during the period. Studio Investment Management LLC grew its holdings in shares of Malibu Boats by 53.7% during the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after buying an additional 380 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Malibu Boats during the fourth quarter valued at $38,000. Finally, Bank of Montreal Can lifted its stake in Malibu Boats by 10.4% in the 2nd quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock worth $442,000 after acquiring an additional 1,170 shares in the last quarter. 91.35% of the stock is owned by institutional investors.

Malibu Boats Company Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.