Shares of Malibu Boats, Inc. (NASDAQ:MBUU – Get Free Report) have earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $60.43.
A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Wednesday. Raymond James lowered their price target on shares of Malibu Boats from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday. B. Riley lowered their price target on shares of Malibu Boats from $69.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, August 30th. Truist Financial lowered their price target on shares of Malibu Boats from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday. Finally, TheStreet downgraded shares of Malibu Boats from a “b-” rating to a “c+” rating in a report on Tuesday, August 29th.
View Our Latest Stock Report on Malibu Boats
Malibu Boats Stock Down 1.6 %
Malibu Boats (NASDAQ:MBUU – Get Free Report) last announced its earnings results on Tuesday, August 29th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.72. The company had revenue of $372.30 million during the quarter, compared to analysts’ expectations of $327.79 million. Malibu Boats had a net margin of 6.70% and a return on equity of 29.04%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.35 earnings per share. Equities research analysts expect that Malibu Boats will post 5.86 EPS for the current fiscal year.
Institutional Investors Weigh In On Malibu Boats
Institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc purchased a new stake in Malibu Boats in the third quarter valued at approximately $25,000. Quarry LP acquired a new position in Malibu Boats during the second quarter valued at approximately $25,000. Public Employees Retirement System of Ohio lifted its position in Malibu Boats by 44.7% during the third quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock valued at $27,000 after buying an additional 173 shares in the last quarter. Ensign Peak Advisors Inc acquired a new position in Malibu Boats during the third quarter valued at approximately $29,000. Finally, Point72 Middle East FZE acquired a new position in Malibu Boats during the fourth quarter valued at approximately $31,000. 91.35% of the stock is currently owned by hedge funds and other 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.
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