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

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $32.80.

MBUU has been the topic of a number of analyst reports. Zacks Research upgraded Malibu Boats from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Truist Financial lifted their target price on Malibu Boats from $30.00 to $37.00 and gave the company a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Malibu Boats in a research report on Monday, December 29th. Loop Capital initiated coverage on shares of Malibu Boats in a research report on Monday, December 22nd. They issued a “buy” rating and a $34.00 price objective on the stock. Finally, B. Riley decreased their target price on shares of Malibu Boats from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th.

Malibu Boats Price Performance

NASDAQ MBUU opened at $34.61 on Thursday. The company has a market cap of $665.55 million, a PE ratio of 35.32 and a beta of 1.22. The firm’s 50 day moving average price is $30.65 and its 200-day moving average price is $31.47. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 1.63. Malibu Boats has a 52-week low of $24.07 and a 52-week high of $39.65.

Malibu Boats declared that its Board of Directors has initiated a stock buyback plan on Friday, December 19th that allows the company to buyback $70.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 12.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Malibu Boats

A number of large investors have recently modified their holdings of MBUU. GAMMA Investing LLC raised its position in shares of Malibu Boats by 31.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,312 shares of the company’s stock valued at $43,000 after purchasing an additional 313 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Malibu Boats by 43.3% in the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after buying an additional 643 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Malibu Boats by 346.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after buying an additional 1,801 shares during the last quarter. Strs Ohio purchased a new stake in shares of Malibu Boats during the first quarter valued at $123,000. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Malibu Boats by 36.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,618 shares of the company’s stock valued at $130,000 after buying an additional 1,223 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Company Profile

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.