Robert W. Baird Increases Malibu Boats (NASDAQ:MBUU) Price Target to $50.00

Malibu Boats (NASDAQ:MBUU) had its target price boosted by Robert W. Baird from $40.00 to $50.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 13.82% from the stock’s previous close.

MBUU has been the subject of a number of other reports. B. Riley lowered their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Friday. Truist Financial reissued a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a research note on Monday, July 8th. Finally, StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.57.

Malibu Boats Trading Down 2.1 %

Shares of MBUU opened at $43.93 on Friday. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03. The firm has a market capitalization of $879.04 million, a P/E ratio of -11.04 and a beta of 1.36. The firm has a 50-day moving average price of $39.14 and a 200 day moving average price of $36.67.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.07). The firm had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $157.54 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.33%. The business’s quarterly revenue was down 57.4% on a year-over-year basis. During the same period last year, the company earned $2.96 EPS. Equities research analysts predict that Malibu Boats will post 1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. increased its position in shares of Malibu Boats by 7.2% in the 1st quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock valued at $13,307,000 after purchasing an additional 20,700 shares during the last quarter. PAX Financial Group LLC acquired a new position in shares of Malibu Boats during the 1st quarter worth about $579,000. Assenagon Asset Management S.A. purchased a new position in shares of Malibu Boats in the 2nd quarter valued at about $3,667,000. Lord Abbett & CO. LLC raised its position in shares of Malibu Boats by 231.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock worth $13,535,000 after acquiring an additional 218,378 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Malibu Boats by 54.8% during the first quarter. BNP Paribas Financial Markets now owns 19,453 shares of the company’s stock worth $842,000 after purchasing an additional 6,888 shares during the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

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.