Benchmark Begins Coverage on Malibu Boats (NASDAQ:MBUU)

Benchmark started coverage on shares of Malibu Boats (NASDAQ:MBUU) in a research report released on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $44.00 target price on the stock.

Several other equities research analysts have also commented on the stock. KeyCorp lowered their price target on shares of Malibu Boats from $50.00 to $38.00 and set an overweight rating on the stock in a report on Friday, May 3rd. StockNews.com raised shares of Malibu Boats from a sell rating to a hold rating in a report on Wednesday. Raymond James lowered shares of Malibu Boats from an outperform rating to a market perform rating in a report on Monday, April 15th. Robert W. Baird decreased their price objective on shares of Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a research report on Friday, May 3rd. Finally, B. Riley decreased their price objective on shares of Malibu Boats from $45.00 to $39.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $43.14.

Malibu Boats Stock Up 1.9 %

Shares of MBUU opened at $36.10 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.67 and a quick ratio of 0.66. Malibu Boats has a 1-year low of $31.47 and a 1-year high of $62.36. The company’s fifty day moving average price is $37.55 and its 200-day moving average price is $44.04.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates 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. Sell-side analysts anticipate that Malibu Boats will post 1.84 EPS for the current year.

Insider Buying and Selling at Malibu Boats

In other Malibu Boats news, Director Mark W. Lanigan acquired 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was bought at an average price of $33.43 per share, for a total transaction of $668,600.00. Following the acquisition, the director now owns 73,368 shares in the company, valued at $2,452,692.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.62% of the stock is owned by insiders.

Institutional Trading of Malibu Boats

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Malibu Boats in the 4th quarter valued at approximately $48,000. EntryPoint Capital LLC purchased a new stake in shares of Malibu Boats in the 1st quarter valued at approximately $84,000. Benjamin Edwards Inc. grew its stake in shares of Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after buying an additional 318 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Malibu Boats in the 1st quarter valued at approximately $142,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Malibu Boats by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock valued at $194,000 after buying an additional 386 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Company Profile

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.