Malibu Boats (NASDAQ:MBUU) Stock Rating Reaffirmed by B. Riley
Malibu Boats (NASDAQ:MBUU)‘s stock had its “buy” rating reiterated by equities researchers at B. Riley in a research note issued to investors on Friday, Stock Target Advisor reports. They presently have a $52.00 target price on the stock. B. Riley’s target price indicates a potential upside of 36.73% from the stock’s current price.
MBUU has been the topic of a number of other research reports. Raymond James downgraded Malibu Boats from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 22nd. KeyCorp dropped their price objective on Malibu Boats from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Wells Fargo & Co set a $40.00 price objective on Malibu Boats and gave the company a “buy” rating in a research report on Thursday, August 29th. BMO Capital Markets dropped their price objective on Malibu Boats from $62.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. Finally, BidaskClub upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.17.
NASDAQ:MBUU traded up $0.05 during midday trading on Friday, hitting $38.03. 208,900 shares of the company traded hands, compared to its average volume of 244,399. Malibu Boats has a 12-month low of $24.79 and a 12-month high of $49.11. The firm’s fifty day moving average is $32.86 and its 200-day moving average is $34.08. The firm has a market capitalization of $777.26 million, a P/E ratio of 10.36, a P/E/G ratio of 0.99 and a beta of 1.80. The company has a current ratio of 1.61, a quick ratio of 0.72 and a debt-to-equity ratio of 0.53.
Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. raised its stake in Malibu Boats by 111.1% in the second quarter. Advisor Group Inc. now owns 859 shares of the company’s stock valued at $33,000 after buying an additional 452 shares during the last quarter. Aperio Group LLC purchased a new stake in Malibu Boats in the second quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Malibu Boats in the second quarter valued at about $68,000. SG Americas Securities LLC purchased a new stake in Malibu Boats in the third quarter valued at about $146,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Malibu Boats in the second quarter valued at about $224,000.
Malibu Boats Company Profile
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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