Raymond James analyst Joseph Altobello maintained a Buy rating on Malibu Boats (NASDAQ: MBUU) today and set a price target of $61. The company’s shares closed yesterday at $52.42.
According to TipRanks.com, Altobello is a 5-star analyst with an average return of 17.2% and a 69.8% success rate. Altobello covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies Inc, Scotts Miracle-Gro Company, and Brunswick Corporation.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Malibu Boats with a $52.88 average price target, a 0.9% upside from current levels. In a report issued on August 23, Wells Fargo also upgraded the stock to Buy with a $51 price target.
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Based on Malibu Boats’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $12.44 million. In comparison, last year the company had a net profit of $9.66 million.
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Malibu Boats, Inc. is a holding company, which engages in the design, manufacture, and market of performance sport boats. Its boats are used for water sports, including water skiing, wakeboarding and wake surfing, as well as general recreational boating under the brands Malibu and Axis Wake Research.
