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Malibu Boats (NASDAQ:MBUU) had its price target increased by B. Riley from $85.00 to $93.00 in a report published on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also weighed in on MBUU. Raymond James increased their price target on Malibu Boats from $73.00 to $85.00 and gave the stock an outperform rating in a research note on Wednesday. BMO Capital Markets upgraded Malibu Boats from a market perform rating to an outperform rating and upped their price objective for the stock from $56.00 to $86.00 in a report on Wednesday, January 13th. Finally, Truist upped their price objective on Malibu Boats from $75.00 to $82.00 in a report on Wednesday, January 27th. Eight research analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and an average price target of $76.75.

Shares of Malibu Boats stock opened at $79.64 on Wednesday. Malibu Boats has a fifty-two week low of $18.02 and a fifty-two week high of $81.81. The firm has a market cap of $1.65 billion, a PE ratio of 24.89 and a beta of 1.94. The business’s fifty day moving average is $69.68 and its two-hundred day moving average is $59.27. The company has a quick ratio of 0.92, a current ratio of 1.74 and a debt-to-equity ratio of 0.26.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Monday, February 8th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.19. Malibu Boats had a return on equity of 28.93% and a net margin of 10.09%. The company had revenue of $195.65 million for the quarter, compared to analyst estimates of $189.80 million. During the same quarter in the prior year, the company posted $0.93 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Malibu Boats will post 5.05 EPS for the current year.

Several hedge funds have recently modified their holdings of MBUU. Rhumbline Advisers lifted its holdings in Malibu Boats by 1.8% in the fourth quarter. Rhumbline Advisers now owns 25,933 shares of the company’s stock worth $1,619,000 after acquiring an additional 456 shares during the last quarter. Intrust Bank NA acquired a new stake in shares of Malibu Boats in the fourth quarter valued at approximately $206,000. Panagora Asset Management Inc. increased its stake in shares of Malibu Boats by 4.4% in the fourth quarter. Panagora Asset Management Inc. now owns 132,800 shares of the company’s stock valued at $8,292,000 after purchasing an additional 5,611 shares during the period. HighTower Advisors LLC increased its stake in shares of Malibu Boats by 3.7% in the fourth quarter. HighTower Advisors LLC now owns 8,977 shares of the company’s stock valued at $561,000 after purchasing an additional 318 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Malibu Boats by 7.9% in the fourth quarter. Wells Fargo & Company MN now owns 132,524 shares of the company’s stock valued at $8,275,000 after purchasing an additional 9,649 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Company Profile

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Cobalt, and Pursuit. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Cobalt, and Pursuit brands.

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