Malibu Boats, Inc. (NASDAQ:MBUU) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Saturday. The firm currently has a $29.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.22% from the stock’s previous close.

According to Zacks, “Malibu Boats, Inc. operates as a designer, manufacturer and marketer of sport boats primarily in the United States. The Company sells its boats under two brands: Malibu and Axis Wake Research. Its sport boats used for water sports including water skiing, wakeboarding and wake surfing as well as for general recreational boating use. Malibu Boats, Inc. is based in Loudon, United States. “

A number of other research firms also recently weighed in on MBUU. BMO Capital Markets reissued a “hold” rating and set a $22.00 target price on shares of Malibu Boats in a research report on Thursday, May 4th. B. Riley reissued a “buy” rating and set a $26.00 target price on shares of Malibu Boats in a research report on Saturday, May 13th. ValuEngine raised shares of Malibu Boats from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub downgraded shares of Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Wunderlich downgraded shares of Malibu Boats from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Malibu Boats has an average rating of “Buy” and an average price target of $25.40.

Malibu Boats (NASDAQ MBUU) traded down 0.47% during trading on Friday, reaching $25.39. The company had a trading volume of 296,971 shares. Malibu Boats has a one year low of $12.35 and a one year high of $29.50. The company has a 50-day moving average price of $27.30 and a 200 day moving average price of $23.48. The company has a market capitalization of $455.24 million, a price-to-earnings ratio of 20.31 and a beta of 0.98.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Malibu Boats during the second quarter valued at approximately $116,000. Stevens Capital Management LP acquired a new position in Malibu Boats during the second quarter valued at approximately $201,000. Dynamic Technology Lab Private Ltd acquired a new position in Malibu Boats during the first quarter valued at approximately $206,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Malibu Boats during the second quarter valued at approximately $211,000. Finally, Laurion Capital Management LP acquired a new position in Malibu Boats during the second quarter valued at approximately $211,000. 99.81% of the stock is owned by institutional investors.

About Malibu Boats

Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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