Malibu Boats (NASDAQ:MBUU) Given a $62.00 Price Target by B. Riley Analysts

B. Riley set a $62.00 price objective on Malibu Boats (NASDAQ:MBUU) in a report issued on Wednesday, TipRanks reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently issued reports on MBUU. SunTrust Banks cut their price objective on shares of Malibu Boats to $48.00 and set a buy rating for the company in a research report on Monday, June 17th. Zacks Investment Research downgraded shares of Malibu Boats from a hold rating to a sell rating in a research report on Thursday. KeyCorp cut their price objective on shares of Malibu Boats from $53.00 to $48.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Raymond James downgraded shares of Malibu Boats from a strong-buy rating to a market perform rating in a research report on Monday, July 22nd. Finally, BidaskClub downgraded shares of Malibu Boats from a sell rating to a strong sell rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Malibu Boats currently has a consensus rating of Hold and a consensus target price of $53.29.

Malibu Boats stock traded down $0.62 during midday trading on Wednesday, reaching $27.27. 50,816 shares of the company’s stock were exchanged, compared to its average volume of 259,981. Malibu Boats has a 52 week low of $24.79 and a 52 week high of $59.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.72 and a current ratio of 1.61. The firm has a market cap of $555.09 million, a price-to-earnings ratio of 10.82, a P/E/G ratio of 0.68 and a beta of 1.80. The stock’s 50-day simple moving average is $31.65 and its 200 day simple moving average is $38.64.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MBUU. Advisor Group Inc. raised its position in shares of 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 in the last quarter. Aperio Group LLC acquired a new stake in shares of Malibu Boats in the second quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Malibu Boats in the second quarter valued at approximately $68,000. BNP Paribas Arbitrage SA raised its position in shares of Malibu Boats by 1,412.1% in the first quarter. BNP Paribas Arbitrage SA now owns 4,642 shares of the company’s stock valued at $184,000 after buying an additional 4,335 shares in the last quarter. Finally, Brinker Capital Inc. acquired a new stake in shares of Malibu Boats in the first quarter valued at approximately $222,000.

About Malibu Boats

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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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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