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

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have earned a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $32.3333.

A number of analysts have recently issued reports on MBUU shares. Loop Capital started coverage on shares of Malibu Boats in a report on Monday, December 22nd. They set a “buy” rating and a $34.00 price objective for the company. Zacks Research raised Malibu Boats from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Wall Street Zen cut Malibu Boats from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. B. Riley Financial reduced their price objective on Malibu Boats from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Malibu Boats in a report on Monday, December 29th.

Hedge Funds Weigh In On Malibu Boats

A number of large investors have recently added to or reduced their stakes in MBUU. GAMMA Investing LLC boosted its position in Malibu Boats by 31.3% during the third quarter. GAMMA Investing LLC now owns 1,312 shares of the company’s stock valued at $43,000 after buying an additional 313 shares during the period. Invesco Ltd. increased its holdings in shares of Malibu Boats by 0.8% in the fourth quarter. Invesco Ltd. now owns 53,074 shares of the company’s stock worth $1,497,000 after buying an additional 432 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Malibu Boats by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 10,936 shares of the company’s stock worth $355,000 after buying an additional 441 shares during the period. Creative Planning lifted its stake in shares of Malibu Boats by 5.0% in the 2nd quarter. Creative Planning now owns 9,471 shares of the company’s stock valued at $297,000 after acquiring an additional 453 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Malibu Boats by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock valued at $356,000 after acquiring an additional 491 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Down 6.3%

MBUU stock opened at $25.77 on Monday. The company’s 50 day moving average is $31.14 and its 200 day moving average is $30.81. The stock has a market cap of $479.32 million, a price-to-earnings ratio of 35.30 and a beta of 1.22. The company has a current ratio of 1.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.04. Malibu Boats has a 1-year low of $24.07 and a 1-year high of $39.65.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business had revenue of $188.62 million during the quarter, compared to analyst estimates of $181.96 million. Malibu Boats had a net margin of 1.76% and a return on equity of 4.25%. Malibu Boats’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. Sell-side analysts predict that Malibu Boats will post 1.69 EPS for the current fiscal year.

Malibu Boats announced that its Board of Directors has initiated a stock buyback program on Friday, December 19th that permits the company to repurchase $70.00 million in shares. This repurchase authorization permits the company to buy up to 12.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

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.