Malibu Boats (NASDAQ:MBUU) Price Target Cut to $32.00

Malibu Boats (NASDAQ:MBUU) had its price objective decreased by B. Riley from $55.00 to $32.00 in a report published on Monday, BenzingaRatingsTable reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Malibu Boats’ Q3 2020 earnings at $1.12 EPS, Q4 2020 earnings at $0.78 EPS, FY2020 earnings at $3.59 EPS, Q1 2021 earnings at $0.58 EPS, Q2 2021 earnings at $0.61 EPS, Q3 2021 earnings at $0.83 EPS, Q4 2021 earnings at $0.66 EPS and FY2021 earnings at $2.69 EPS.

MBUU has been the subject of a number of other research reports. Berenberg Bank assumed coverage on shares of Malibu Boats in a report on Wednesday, January 15th. They issued a buy rating and a $50.00 price target for the company. Wells Fargo & Co reissued a buy rating on shares of Malibu Boats in a report on Friday, February 7th. BidaskClub lowered shares of Malibu Boats from a buy rating to a hold rating in a report on Saturday, March 14th. BMO Capital Markets reaffirmed an outperform rating and set a $60.00 target price on shares of Malibu Boats in a report on Friday, February 7th. Finally, Zacks Investment Research raised shares of Malibu Boats from a hold rating to a buy rating and set a $53.00 target price for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. Malibu Boats presently has a consensus rating of Buy and a consensus target price of $49.63.

Shares of Malibu Boats stock traded up $2.05 during midday trading on Monday, reaching $28.60. The company had a trading volume of 192,600 shares, compared to its average volume of 213,117. The company has a current ratio of 1.55, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $512.15 million, a price-to-earnings ratio of 8.17 and a beta of 1.89. The stock has a fifty day simple moving average of $39.77 and a 200 day simple moving average of $37.49. Malibu Boats has a 1-year low of $22.30 and a 1-year high of $52.13.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.24. The business had revenue of $180.10 million during the quarter, compared to analyst estimates of $164.13 million. Malibu Boats had a net margin of 9.79% and a return on equity of 39.76%. Malibu Boats’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. Sell-side analysts expect that Malibu Boats will post 4 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aigen Investment Management LP acquired a new stake in Malibu Boats during the 4th quarter worth $30,000. Great West Life Assurance Co. Can acquired a new stake in Malibu Boats during the 4th quarter worth $50,000. Verus Capital Partners LLC acquired a new stake in Malibu Boats during the 4th quarter worth $57,000. Acadian Asset Management LLC acquired a new stake in Malibu Boats during the 4th quarter worth $73,000. Finally, Boston Partners acquired a new stake in Malibu Boats during the 4th quarter worth $98,000. 98.49% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Company Profile

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

See Also: New Google Finance Tool and Screening Stocks

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

Receive News & Ratings for Malibu Boats Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Malibu Boats and related companies with MarketBeat.com's FREE daily email newsletter.