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

Benchmark reaffirmed their buy rating on shares of Malibu Boats (NASDAQ:MBUU) in a research report sent to investors on Friday, Benzinga reports. The firm currently has a $44.00 price objective on the stock.

Several other equities research analysts also recently issued reports on the company. StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Truist Financial reissued a “hold” rating and set a $32.00 price target on shares of Malibu Boats in a report on Monday, July 8th. KeyCorp upped their price objective on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a report on Friday. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Friday. Finally, B. Riley reduced their target price on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.57.

Malibu Boats Trading Down 2.1 %

Shares of Malibu Boats stock traded down $0.95 on Friday, reaching $43.93. 392,848 shares of the company were exchanged, compared to its average volume of 255,583. The company has a market capitalization of $879.04 million, a price-to-earnings ratio of -15.97 and a beta of 1.38. Malibu Boats has a one year low of $30.20 and a one year high of $56.03. The company has a 50-day moving average of $39.14 and a 200 day moving average of $36.66.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The firm had revenue of $158.70 million during the quarter, compared to analyst estimates of $157.54 million. During the same quarter in the prior year, the business earned $2.96 EPS. The business’s revenue was down 57.4% compared to the same quarter last year. Analysts predict that Malibu Boats will post 1.98 earnings per share for the current year.

Institutional Trading of Malibu Boats

Several large investors have recently made changes to their positions in the company. Studio Investment Management LLC boosted its holdings in shares of Malibu Boats by 264.4% in the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after purchasing an additional 513 shares in the last quarter. nVerses Capital LLC bought a new position in Malibu Boats in the third quarter valued at about $74,000. EntryPoint Capital LLC acquired a new position in Malibu Boats during the first quarter worth about $84,000. SG Americas Securities LLC bought a new position in shares of Malibu Boats in the second quarter worth about $139,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Malibu Boats in the 1st quarter valued at approximately $142,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.