In a report released today, Joseph Altobello from Raymond James maintained a Buy rating on Malibu Boats (MBUU). The company’s shares closed last Friday at $55.73.
According to TipRanks.com, Altobello is a 5-star analyst with an average return of 9.8% and a 62.6% success rate. Altobello covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, MasterCraft Boat Holdings, and Acushnet Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Malibu Boats with a $69.17 average price target, a 18.9% upside from current levels. In a report released today, Berenberg Bank also maintained a Buy rating on the stock with a $77.00 price target.
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The company has a one-year high of $63.88 and a one-year low of $18.02. Currently, Malibu Boats has an average volume of 222.1K.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MBUU in relation to earlier this year. Most recently, in September 2020, Ritchie Anderson, the COO of MBUU sold 16,889 shares for a total of $914,231.
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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.
