BMO Capital Markets Raises Malibu Boats (NASDAQ:MBUU) Price Target to $80.00

Malibu Boats (NASDAQ:MBUU – Get Rating) had its price target hoisted by BMO Capital Markets from $76.00 to $80.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also commented on MBUU. StockNews.com raised Malibu Boats from a hold rating to a buy rating in a research note on Monday, October 31st. B. Riley decreased their price objective on Malibu Boats from $89.00 to $74.00 and set a buy rating on the stock in a research note on Tuesday, October 25th. Raymond James decreased their price objective on Malibu Boats from $88.00 to $75.00 and set an outperform rating on the stock in a research note on Monday, November 7th. Finally, DA Davidson decreased their price objective on Malibu Boats to $48.00 in a research note on Tuesday, November 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Malibu Boats presently has a consensus rating of Moderate Buy and an average target price of $71.14.

Malibu Boats Stock Down 1.0 %

MBUU opened at $60.43 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 2.28 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.24 billion, a P/E ratio of 7.34 and a beta of 1.61. Malibu Boats has a 52 week low of $46.30 and a 52 week high of $71.28. The business’s fifty day simple moving average is $57.25 and its 200 day simple moving average is $56.74.

Hedge Funds Weigh In On Malibu Boats

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Large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of Malibu Boats by 135.2% in the 4th quarter. UMB Bank n.a. now owns 494 shares of the company’s stock worth $26,000 after purchasing an additional 284 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Malibu Boats by 44.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock worth $27,000 after purchasing an additional 173 shares during the period. Ensign Peak Advisors Inc purchased a new position in shares of Malibu Boats in the 3rd quarter worth about $29,000. Global Trust Asset Management LLC raised its holdings in shares of Malibu Boats by 89.6% in the 3rd quarter. Global Trust Asset Management LLC now owns 948 shares of the company’s stock worth $45,000 after purchasing an additional 448 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Malibu Boats in the 3rd quarter worth about $90,000. 93.14% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Company Profile

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Malibu Boats, Inc is a holding company, which engages in the design, manufacture, and marketing of recreational powerboats. It offers performance sport boats, sterndrive, and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes and Cobalt brands. The firm operates through the following segments: Malibu, Saltwater Fishing and Cobalt.