Malibu Boats (NASDAQ:MBUU) Now Covered by Benchmark

Equities research analysts at Benchmark initiated coverage on shares of Malibu Boats (NASDAQ:MBUUGet Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $44.00 price target on the stock. Benchmark’s target price would suggest a potential upside of 24.22% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Truist Financial decreased their price objective on shares of Malibu Boats from $52.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Raymond James lowered Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. B. Riley cut their price objective on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Robert W. Baird lowered their target price on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.14.

View Our Latest Analysis on Malibu Boats

Malibu Boats Price Performance

NASDAQ:MBUU opened at $35.42 on Wednesday. Malibu Boats has a 52 week low of $31.47 and a 52 week high of $62.36. The stock’s fifty day moving average is $37.61 and its two-hundred day moving average is $44.10. The company has a market capitalization of $723.98 million, a P/E ratio of -13.27 and a beta of 1.41. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03.

Malibu Boats (NASDAQ:MBUUGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.14. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. The firm had revenue of $203.42 million for the quarter, compared to analyst estimates of $205.83 million. Equities analysts expect that Malibu Boats will post 1.84 EPS for the current year.

Insider Buying and Selling at Malibu Boats

In related news, Director Mark W. Lanigan acquired 20,000 shares of the stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $33.43 per share, with a total value of $668,600.00. Following the completion of the transaction, the director now owns 73,368 shares in the company, valued at approximately $2,452,692.24. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Malibu Boats

Several institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in Malibu Boats by 16.8% in the first quarter. Janus Henderson Group PLC now owns 15,499 shares of the company’s stock valued at $671,000 after buying an additional 2,233 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Malibu Boats by 9.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock worth $439,000 after acquiring an additional 836 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Malibu Boats during the 1st quarter worth about $662,000. EntryPoint Capital LLC purchased a new position in shares of Malibu Boats in the 1st quarter valued at about $84,000. Finally, Bessemer Group Inc. raised its position in shares of Malibu Boats by 7.2% during the 1st quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after acquiring an additional 20,700 shares in the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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