Malibu Boats, Inc. (NASDAQ:MBUU) Receives $31.00 Average Price Target from Analysts

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have received a consensus rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $31.60.

A number of research firms have weighed in on MBUU. DA Davidson reissued a “neutral” rating and set a $30.00 price objective on shares of Malibu Boats in a research note on Monday, June 15th. Zacks Research upgraded Malibu Boats from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 10th. Weiss Ratings cut shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Truist Financial raised their price objective on shares of Malibu Boats from $31.00 to $34.00 and gave the stock a “hold” rating in a research report on Monday.

Malibu Boats Trading Down 0.9%

MBUU opened at $25.64 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 0.44. The company’s 50 day simple moving average is $26.98 and its two-hundred day simple moving average is $28.24. Malibu Boats has a 1-year low of $23.84 and a 1-year high of $39.65. The firm has a market capitalization of $503.57 million, a price-to-earnings ratio of -427.33 and a beta of 1.14.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The business had revenue of $235.70 million during the quarter, compared to analyst estimates of $203.46 million. During the same period in the prior year, the business earned $0.72 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Analysts expect that Malibu Boats will post 1.34 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Malibu Boats during the 4th quarter valued at approximately $31,000. BNP Paribas Financial Markets grew its position in 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 acquiring an additional 643 shares during the period. Tower Research Capital LLC TRC increased its stake in Malibu Boats by 346.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after acquiring an additional 1,801 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Malibu Boats by 108.5% during the fourth quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock worth $93,000 after acquiring an additional 1,718 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Malibu Boats in the first quarter valued at $123,000. Institutional investors and hedge funds 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.