Benchmark Reiterates "Buy" Rating for Malibu Boats (NASDAQ:MBUU)

Malibu Boats (NASDAQ:MBUU - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Benchmark in a research note issued to investors on Friday, Benzinga reports. They currently have a $44.00 price target on the stock. Benchmark's price objective points to a potential upside of 0.16% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Truist Financial restated a "hold" rating and set a $32.00 price target on shares of Malibu Boats in a research report on Monday, July 8th. B. Riley lowered their price target on Malibu Boats from $39.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 10th. KeyCorp raised their price objective on Malibu Boats from $38.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday. Robert W. Baird raised their target price on Malibu Boats from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, StockNews.com cut Malibu Boats from a "hold" rating to a "sell" rating in a research note on Friday, August 30th. One equities research 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $44.57.

Malibu Boats Stock Down 2.1 %

Shares of MBUU stock traded down $0.95 on Friday, reaching $43.93. The company's stock had a trading volume of 392,848 shares, compared to its average volume of 255,583. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03. The company has a market capitalization of $879.04 million, a P/E ratio of -16.08 and a beta of 1.38. The stock's 50 day simple moving average is $38.99 and its 200-day simple moving average is $36.60.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its quarterly earnings data 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). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The business had revenue of $158.70 million during the quarter, compared to analysts' expectations of $157.54 million. During the same quarter last year, the business posted $2.96 EPS. The company's quarterly revenue was down 57.4% on a year-over-year basis. Research analysts expect that Malibu Boats will post 1.98 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Several large investors have recently made changes to their positions in MBUU. Pzena Investment Management LLC purchased a new position in Malibu Boats in the 2nd quarter worth approximately $51,800,000. The Manufacturers Life Insurance Company raised its holdings in Malibu Boats by 94.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company's stock worth $29,560,000 after acquiring an additional 409,574 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Malibu Boats by 231.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company's stock worth $13,535,000 after acquiring an additional 218,378 shares during the last quarter. Lodge Hill Capital LLC purchased a new position in Malibu Boats in the 2nd quarter worth approximately $4,866,000. Finally, Dimensional Fund Advisors LP raised its holdings in Malibu Boats by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company's stock worth $39,661,000 after acquiring an additional 111,699 shares during the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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.