B. Riley Trims Malibu Boats (NASDAQ:MBUU) Target Price to $39.00

Malibu Boats (NASDAQ:MBUU) had its target price cut by B. Riley from $45.00 to $39.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently issued reports on the company. Raymond James downgraded Malibu Boats from an outperform rating to a market perform rating in a research report on Monday. Robert W. Baird reaffirmed an outperform rating and set a $54.00 target price on shares of Malibu Boats in a report on Friday, January 19th. Truist Financial decreased their price target on Malibu Boats from $62.00 to $52.00 and set a buy rating on the stock in a research report on Wednesday, January 31st. KeyCorp cut their price objective on shares of Malibu Boats from $58.00 to $50.00 and set an overweight rating for the company in a research report on Wednesday, January 31st. Finally, StockNews.com raised shares of Malibu Boats from a sell rating to a hold rating in a report on Monday, February 26th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Malibu Boats has a consensus rating of Hold and a consensus price target of $49.00.

Malibu Boats Trading Down 3.5 %

Shares of MBUU opened at $34.89 on Tuesday. Malibu Boats has a fifty-two week low of $34.72 and a fifty-two week high of $62.36. The business has a 50-day moving average of $42.83 and a 200 day moving average of $46.64. The firm has a market cap of $712.80 million, a P/E ratio of 11.18 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. The firm had revenue of $211.07 million during the quarter, compared to the consensus estimate of $219.64 million. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The company’s revenue was down 37.7% on a year-over-year basis. During the same quarter last year, the company earned $1.78 earnings per share. As a group, research analysts forecast that Malibu Boats will post 2.57 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael K. Hooks bought 12,500 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was acquired at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the transaction, the insider now directly owns 12,500 shares in the company, valued at approximately $535,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Malibu Boats by 1.0% in the 1st quarter. BlackRock Inc. now owns 1,632,855 shares of the company’s stock worth $94,722,000 after purchasing an additional 15,550 shares in the last quarter. Vanguard Group Inc. grew its position in Malibu Boats by 2.7% during the third quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock valued at $66,926,000 after acquiring an additional 35,474 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Malibu Boats by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock worth $54,765,000 after acquiring an additional 38,450 shares in the last quarter. Cooke & Bieler LP lifted its holdings in shares of Malibu Boats by 35.2% in the 4th quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock worth $50,476,000 after acquiring an additional 239,707 shares during the last quarter. Finally, Southernsun Asset Management LLC boosted its stake in shares of Malibu Boats by 7.0% in the 1st quarter. Southernsun Asset Management LLC now owns 462,420 shares of the company’s stock valued at $26,104,000 after purchasing an additional 30,207 shares in the last quarter. Institutional investors 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.