Malibu Boats, Inc. (NASDAQ:MBUU) Given Consensus Rating of “Hold” by Brokerages

Malibu Boats, Inc. (NASDAQ:MBUU) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $40.00.

Several brokerages have recently issued reports on MBUU. Robert W. Baird lowered their price objective on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Benchmark started coverage on shares of Malibu Boats in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $44.00 price target on the stock. B. Riley cut their price objective on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Truist Financial reissued a “hold” rating and set a $32.00 price objective on shares of Malibu Boats in a research note on Monday, July 8th. Finally, DA Davidson lowered Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Wednesday, July 24th.

Malibu Boats Stock Performance

Shares of NASDAQ MBUU opened at $35.18 on Friday. Malibu Boats has a 1 year low of $30.20 and a 1 year high of $57.29. The firm has a market cap of $719.08 million, a P/E ratio of -13.18 and a beta of 1.40. The stock has a fifty day moving average price of $35.73 and a two-hundred day moving average price of $38.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC purchased a new stake in Malibu Boats in the 2nd quarter worth about $51,800,000. Cooke & Bieler LP lifted its position in shares of Malibu Boats by 35.2% in the fourth quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock worth $50,476,000 after purchasing an additional 239,707 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Malibu Boats by 231.4% during the first quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock worth $13,535,000 after purchasing an additional 218,378 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Malibu Boats by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after purchasing an additional 111,699 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Malibu Boats during the second quarter valued at approximately $3,667,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

About Malibu Boats

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.