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

Malibu Boats (NASDAQ:MBUU – Get Rating) had its target price decreased by B. Riley from $103.00 to $89.00 in a report published on Tuesday, The Fly reports. B. Riley currently has a buy rating on the stock.

MBUU has been the subject of a number of other research reports. Robert W. Baird cut their price objective on shares of Malibu Boats from $80.00 to $70.00 in a report on Wednesday, May 11th. StockNews.com upgraded shares of Malibu Boats from a hold rating to a buy rating in a report on Friday, June 17th. Finally, KeyCorp cut their price objective on shares of Malibu Boats from $94.00 to $80.00 in a report on Thursday, May 12th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $81.57.

Shares of Malibu Boats stock opened at $53.52 on Tuesday. The firm has a market capitalization of $1.10 billion, a PE ratio of 7.87 and a beta of 1.60. Malibu Boats has a twelve month low of $48.31 and a twelve month high of $86.65. The firm’s 50-day moving average price is $54.69 and its 200 day moving average price is $60.60. 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 issued its quarterly earnings results on Tuesday, May 10th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.67. The firm had revenue of $344.30 million for the quarter, compared to analyst estimates of $304.49 million. Malibu Boats had a net margin of 12.60% and a return on equity of 36.30%. Malibu Boats’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company posted $1.75 EPS. On average, sell-side analysts predict that Malibu Boats will post 7.56 EPS for the current fiscal year.

In other news, Director Peter E. Murphy purchased 700 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was acquired at an average price of $54.00 per share, for a total transaction of $37,800.00. Following the acquisition, the director now directly owns 26,780 shares of the company’s stock, valued at $1,446,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.73% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Credit Suisse AG increased its holdings in Malibu Boats by 0.9% in the 3rd quarter. Credit Suisse AG now owns 16,059 shares of the company’s stock valued at $1,124,000 after purchasing an additional 140 shares during the last quarter. Gotham Asset Management LLC increased its holdings in Malibu Boats by 4.3% in the 3rd quarter. Gotham Asset Management LLC now owns 3,982 shares of the company’s stock valued at $279,000 after purchasing an additional 163 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Malibu Boats by 2.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,874 shares of the company’s stock valued at $399,000 after purchasing an additional 187 shares during the last quarter. FourThought Financial LLC increased its holdings in Malibu Boats by 9.1% in the 4th quarter. FourThought Financial LLC now owns 2,277 shares of the company’s stock valued at $156,000 after purchasing an additional 190 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Malibu Boats by 2.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 8,675 shares of the company’s stock valued at $503,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other 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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