Malibu Boats (NASDAQ:MBUU) Given New $70.00 Price Target at Robert W. Baird

Malibu Boats (NASDAQ:MBUU – Get Rating) had its target price lowered by stock analysts at Robert W. Baird from $80.00 to $70.00 in a report issued on Wednesday, The Fly reports. Robert W. Baird’s price objective suggests a potential upside of 23.98% from the stock’s current price.

MBUU has been the subject of a number of other research reports. StockNews.com began coverage on shares of Malibu Boats in a research report on Thursday, March 31st. They set a “hold” rating for the company. Truist Financial decreased their price objective on shares of Malibu Boats from $88.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, January 26th. Raymond James lifted their target price on shares of Malibu Boats from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 9th. Finally, Zacks Investment Research raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Tuesday, February 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $79.83.

Shares of NASDAQ:MBUU opened at $56.46 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.39 and a current ratio of 1.14. Malibu Boats has a 52 week low of $48.51 and a 52 week high of $86.65. The firm has a market cap of $1.18 billion, a PE ratio of 9.57 and a beta of 1.61. The firm’s fifty day moving average is $56.18 and its 200-day moving average is $64.05.

Malibu Boats (NASDAQ:MBUU – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $1.96 by $0.65. The firm had revenue of $344.30 million for the quarter, compared to the consensus estimate of $304.49 million. Malibu Boats had a return on equity of 34.72% and a net margin of 11.65%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.75 EPS. Sell-side analysts forecast that Malibu Boats will post 6.86 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in Malibu Boats by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 24,135 shares of the company’s stock valued at $1,659,000 after purchasing an additional 572 shares in the last quarter. Barclays PLC grew its holdings in shares of Malibu Boats by 72.1% during the third quarter. Barclays PLC now owns 16,958 shares of the company’s stock valued at $1,186,000 after buying an additional 7,104 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Malibu Boats by 4.3% during the fourth quarter. Russell Investments Group Ltd. now owns 42,207 shares of the company’s stock worth $2,900,000 after acquiring an additional 1,741 shares in the last quarter. Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Malibu Boats in the 3rd quarter worth about $988,000. Finally, Allianz Asset Management GmbH lifted its position in Malibu Boats by 16.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 28,638 shares of the company’s stock valued at $2,004,000 after acquiring an additional 4,030 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

About Malibu Boats (Get Rating)

Malibu Boats, Inc engages in the design, engineering, manufacturing, marketing, and sale of a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.

See Also