Malibu Boats, Inc. (NASDAQ:MBUU) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday. The firm currently has a $30.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.98% from the stock’s current price.

According to Zacks, “Malibu Boats, Inc. operates as a designer, manufacturer and marketer of sport boats primarily in the United States. The Company sells its boats under two brands: Malibu and Axis Wake Research. Its sport boats used for water sports including water skiing, wakeboarding and wake surfing as well as for general recreational boating use. Malibu Boats, Inc. is based in Loudon, United States. “

Other research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Malibu Boats from a “buy” rating to a “strong-buy” rating in a report on Wednesday. B. Riley downgraded shares of Malibu Boats to a “neutral” rating and set a $25.25 price objective on the stock. in a report on Saturday. BidaskClub downgraded shares of Malibu Boats from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th. BMO Capital Markets restated a “hold” rating and set a $29.00 price objective on shares of Malibu Boats in a report on Wednesday, July 5th. Finally, KeyCorp restated an “overweight” rating and set a $31.00 price objective on shares of Malibu Boats in a report on Wednesday, August 30th. Three analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $26.38.

Shares of Malibu Boats (NASDAQ:MBUU) opened at 26.79 on Thursday. The firm has a market capitalization of $480.34 million, a P/E ratio of 21.43 and a beta of 0.99. The company has a 50-day moving average price of $27.09 and a 200 day moving average price of $24.32. Malibu Boats has a one year low of $13.96 and a one year high of $29.50.

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Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Malibu Boats by 1.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,896,766 shares of the company’s stock valued at $42,582,000 after acquiring an additional 27,494 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Malibu Boats by 12.9% during the 1st quarter. Macquarie Group Ltd. now owns 1,273,917 shares of the company’s stock valued at $28,599,000 after acquiring an additional 145,160 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Malibu Boats by 10.7% during the 2nd quarter. Vanguard Group Inc. now owns 893,667 shares of the company’s stock valued at $23,120,000 after acquiring an additional 86,128 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Malibu Boats by 1.9% during the 2nd quarter. Lord Abbett & CO. LLC now owns 873,928 shares of the company’s stock valued at $22,609,000 after acquiring an additional 16,256 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Malibu Boats by 28.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 483,670 shares of the company’s stock valued at $12,513,000 after acquiring an additional 107,413 shares in the last quarter.

Malibu Boats Company Profile

Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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