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

Malibu Boats, Inc. (NASDAQ:MBUU) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $40.00.

A number of research analysts have issued reports on MBUU shares. DA Davidson restated a “buy” rating and issued a $45.00 target price on shares of Malibu Boats in a report on Tuesday, September 10th. StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. B. Riley cut their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Truist Financial restated a “hold” rating and set a $32.00 price objective on shares of Malibu Boats in a report on Monday, July 8th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Truist Financial Corp grew its position in Malibu Boats by 35.6% during the second quarter. Truist Financial Corp now owns 8,448 shares of the company’s stock valued at $296,000 after acquiring an additional 2,219 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Malibu Boats by 94.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after purchasing an additional 409,574 shares during the period. AQR Capital Management LLC increased its position in Malibu Boats by 267.9% during the 2nd quarter. AQR Capital Management LLC now owns 88,294 shares of the company’s stock worth $3,094,000 after purchasing an additional 64,297 shares in the last quarter. Bank of Montreal Can raised its holdings in Malibu Boats by 10.4% in the second quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock valued at $442,000 after buying an additional 1,170 shares during the period. Finally, Lodge Hill Capital LLC acquired a new position in Malibu Boats during the second quarter valued at approximately $4,866,000. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Price Performance

Shares of MBUU opened at $39.15 on Monday. Malibu Boats has a 1-year low of $30.20 and a 1-year high of $56.03. The stock has a market cap of $800.23 million, a price-to-earnings ratio of -14.66 and a beta of 1.38. The firm has a 50 day simple moving average of $36.44 and a 200-day simple moving average of $36.64.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.07). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The company had revenue of $158.70 million for the quarter, compared to analysts’ expectations of $157.54 million. During the same period in the previous year, the business posted $2.96 EPS. The business’s quarterly revenue was down 57.4% on a year-over-year basis. On average, equities analysts expect that Malibu Boats will post 1.98 earnings per share for the current fiscal year.

Malibu Boats Company Profile

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.