Malibu Boats (NASDAQ:MBUU) Given New $50.00 Price Target at Robert W. Baird

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

A number of other research firms have also commented on MBUU. Truist Financial restated a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a research note on Monday, July 8th. B. Riley reduced their price objective on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Finally, DA Davidson cut Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.57.

Malibu Boats Stock Down 2.1 %

NASDAQ:MBUU opened at $43.93 on Friday. The company has a market capitalization of $879.04 million, a PE ratio of -11.04 and a beta of 1.36. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $56.03. The stock’s 50 day moving average price is $39.14 and its 200 day moving average price is $36.67.

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

Hedge Funds Weigh In On Malibu Boats

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

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.