Truist Financial analyst Michael Swartz maintained a Buy rating on Malibu Boats (MBUU – Research Report) yesterday and set a price target of $42.00. The company’s shares closed yesterday at $35.61.
Swartz covers the Consumer Cyclical sector, focusing on stocks such as Cedar Fair, United Parks & Resorts, and Fox Factory Holding. According to TipRanks, Swartz has an average return of 16.2% and a 48.38% success rate on recommended stocks.
In addition to Truist Financial, Malibu Boats also received a Buy from KeyBanc’s Noah Zatzkin in a report issued on May 3. However, on May 6, D.A. Davidson maintained a Hold rating on Malibu Boats (NASDAQ: MBUU).
Based on Malibu Boats’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $211.07 million and a net profit of $9.88 million. In comparison, last year the company earned a revenue of $338.73 million and had a net profit of $35.16 million
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MBUU in relation to earlier this year.
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Malibu Boats (MBUU) Company Description:
Malibu Boats, Inc. is a holding company, which engages in the design, manufacture, and market of recreational powerboats. It offers performance sport boats, sterndrive, and outboard boats under the Malibu, Axis, Cobalt, and Pursuit brands. It operates through the following segments: Malibu U.S., Malibu Australia, Cobalt, and Pursuit. The Malibu U.S. segment serves markets in North America, South America, Europe, and Asia. The Malibu Australia segment covers the Australian, and New Zealand markets. The Cobalt segment offers Cobalt boats throughout the world. The Pursuit segment involves in the distribution and sale of Pursuit boats throughout the world. The company was founded in 1982 and is headquartered in Loudon, TN.
Read More on MBUU:
- Malibu Boats cuts FY24 revenue outlook to down 40%-41%
- Malibu Boats price target lowered to $42 from $52 at Truist
- Malibu Boats price target lowered to $38 from $50 at KeyBanc
- Malibu Boats price target lowered to $40 from $50 at Baird
- Malibu Boats Inc. Adrift: Terminated Dealership and Legal Woes Threaten Sales and Reputation
