Malibu Boats (NASDAQ:MBUU) Given “Buy” Rating at Benchmark

Benchmark reiterated their buy rating on shares of Malibu Boats (NASDAQ:MBUU) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $44.00 target price on the stock.

A number of other research firms have also recently issued reports on MBUU. B. Riley dropped their price target on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Truist Financial reaffirmed a “hold” rating and set a $32.00 target price on shares of Malibu Boats in a research note on Monday, July 8th. Robert W. Baird lifted their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday. DA Davidson cut shares of 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. Finally, KeyCorp lifted their target price on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $44.57.

Malibu Boats Price Performance

NASDAQ:MBUU opened at $43.93 on Friday. The firm has a market cap of $879.04 million, a price-to-earnings ratio of -11.04 and a beta of 1.36. The company has a 50 day moving average price of $39.14 and a 200-day moving average price of $36.69. Malibu Boats has a 1-year low of $30.20 and a 1-year high of $56.03.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.33%. The firm had revenue of $171.60 million during the quarter, compared to analyst estimates of $165.33 million. During the same period in the previous year, the firm earned $1.07 EPS. The business’s quarterly revenue was down 32.9% on a year-over-year basis. On average, sell-side analysts anticipate that Malibu Boats will post 1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Studio Investment Management LLC boosted its position in shares of Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after acquiring an additional 513 shares during the last quarter. nVerses Capital LLC purchased a new stake in Malibu Boats in the 3rd quarter valued at about $74,000. EntryPoint Capital LLC purchased a new stake in Malibu Boats in the 1st quarter valued at about $84,000. Central Pacific Bank Trust Division purchased a new stake in Malibu Boats in the 1st quarter valued at about $142,000. Finally, SG Americas Securities LLC purchased a new stake in Malibu Boats in the 2nd quarter valued at about $139,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.