B. Riley Cuts Malibu Boats (NASDAQ:MBUU) Price Target to $89.00

Malibu Boats (NASDAQ:MBUU – Get Rating) had its price objective reduced by B. Riley from $103.00 to $89.00 in a research note published on Tuesday morning, The Fly reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Malibu Boats from $80.00 to $70.00 in a research report on Wednesday, May 11th. StockNews.com raised shares of Malibu Boats from a hold rating to a buy rating in a research report on Friday, June 17th. Finally, KeyCorp reduced their price target on shares of Malibu Boats from $94.00 to $80.00 in a research report on Thursday, May 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $81.57.

Malibu Boats stock opened at $53.52 on Tuesday. The stock has a market cap of $1.10 billion, a P/E ratio of 7.87 and a beta of 1.60. The company has a fifty day simple moving average of $54.69 and a 200-day simple moving average of $60.60. Malibu Boats has a 12-month low of $48.31 and a 12-month high of $86.65. The company has a current ratio of 1.23, a quick ratio of 0.50 and a debt-to-equity ratio of 0.10.

Malibu Boats (NASDAQ:MBUU – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.67. Malibu Boats had a net margin of 12.60% and a return on equity of 36.30%. The business had revenue of $344.30 million during the quarter, compared to analysts’ expectations of $304.49 million. During the same period in the previous year, the company earned $1.75 EPS. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, sell-side analysts forecast that Malibu Boats will post 7.56 earnings per share for the current fiscal year.

In other Malibu Boats news, Director Peter E. Murphy acquired 700 shares of the company’s stock in a transaction on Wednesday, June 15th. The shares were bought at an average cost of $54.00 per share, for a total transaction of $37,800.00. Following the completion of the purchase, the director now owns 26,780 shares in the company, valued at approximately $1,446,120. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.73% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of MBUU. Selective Wealth Management Inc. acquired a new position in shares of Malibu Boats during the fourth quarter worth about $27,000. Captrust Financial Advisors increased its stake in shares of Malibu Boats by 128.1% during the first quarter. Captrust Financial Advisors now owns 1,843 shares of the company’s stock worth $107,000 after acquiring an additional 1,035 shares during the period. FourThought Financial LLC increased its stake in shares of Malibu Boats by 9.1% during the fourth quarter. FourThought Financial LLC now owns 2,277 shares of the company’s stock worth $156,000 after acquiring an additional 190 shares during the period. YorkBridge Wealth Partners LLC acquired a new position in shares of Malibu Boats during the first quarter worth about $208,000. Finally, Howe & Rusling Inc. increased its stake in shares of Malibu Boats by 5,752.4% during the first quarter. Howe & Rusling Inc. now owns 3,687 shares of the company’s stock worth $214,000 after acquiring an additional 3,624 shares during the period. 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.

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