Malibu Boats (NASDAQ:MBUU) Price Target Lowered to $39.00 at B. Riley

Malibu Boats (NASDAQ:MBUU) had its target price trimmed by B. Riley from $45.00 to $39.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on MBUU. Raymond James cut shares of Malibu Boats from an outperform rating to a market perform rating in a report on Monday. StockNews.com upgraded Malibu Boats from a sell rating to a hold rating in a research note on Monday, February 26th. Robert W. Baird reiterated an outperform rating and set a $54.00 price objective on shares of Malibu Boats in a research report on Friday, January 19th. KeyCorp reduced their target price on shares of Malibu Boats from $58.00 to $50.00 and set an overweight rating for the company in a research report on Wednesday, January 31st. Finally, Truist Financial lowered their price target on shares of Malibu Boats from $62.00 to $52.00 and set a buy rating on the stock in a research report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $49.00.

Malibu Boats Stock Down 3.5 %

MBUU stock opened at $34.89 on Tuesday. Malibu Boats has a 1-year low of $34.72 and a 1-year high of $62.36. The business’s 50 day simple moving average is $42.83 and its 200 day simple moving average is $46.64. The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $712.80 million, a PE ratio of 11.18 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $211.07 million during the quarter, compared to analysts’ expectations of $219.64 million. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The company’s revenue for the quarter was down 37.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 earnings per share. As a group, research analysts anticipate that Malibu Boats will post 2.57 EPS for the current year.

Insider Buying and Selling

In other news, insider Michael K. Hooks acquired 12,500 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $42.82 per share, with a total value of $535,250.00. Following the completion of the transaction, the insider now directly owns 12,500 shares of the company’s stock, valued at approximately $535,250. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On Malibu Boats

Hedge funds have recently bought and sold shares of the company. Cooke & Bieler LP boosted its position in shares of Malibu Boats by 35.2% during the 4th quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock worth $50,476,000 after acquiring an additional 239,707 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Malibu Boats during the 2nd quarter worth $9,260,000. Invesco Ltd. lifted its position in shares of Malibu Boats by 272.7% during the 3rd quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock worth $6,231,000 after buying an additional 93,004 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in Malibu Boats by 29.3% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 318,826 shares of the company’s stock valued at $15,629,000 after buying an additional 72,330 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its position in Malibu Boats by 57.8% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 196,943 shares of the company’s stock valued at $9,654,000 after acquiring an additional 72,120 shares during the last quarter. 91.35% of the stock is owned by institutional investors.

About Malibu Boats

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.