B.Riley FBR analyst Eric Wold maintained a Buy rating on Malibu Boats (MBUU) on July 19 and set a price target of $62. The company’s shares closed on Friday at $35.21, close to its 52-week low of $32.09.
According to TipRanks.com, Wold has 0 stars on 0-5 star ranking scale with an average return of -6.7% and a 30.2% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Currently, the analyst consensus on Malibu Boats is a Strong Buy with an average price target of $57.33, a 62.8% upside from current levels. In a report issued on July 17, Wells Fargo also maintained a Buy rating on the stock.
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Based on Malibu Boats’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $21.1 million. In comparison, last year the company had a net profit of $12.44 million.
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Malibu Boats, Inc. is a holding company, which engages in the design, manufacture, and marketing of recreational powerboats, including performance sport boats, sterndrive, and outboard boats under the Malibu, Axis, and Cobalt brands. It operates through the following segments: Malibu US, Malibu Australia, and Cobalt.
