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

Malibu Boats, Inc. (NASDAQ:MBUU) has received a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $31.60.

MBUU has been the subject of a number of recent analyst reports. Truist Financial increased their price target on Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Zacks Research lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. DA Davidson reiterated a “neutral” rating and issued a $30.00 target price on shares of Malibu Boats in a report on Monday, June 15th. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings lowered shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th.

Malibu Boats Price Performance

Shares of NASDAQ:MBUU opened at $27.92 on Thursday. The company has a market capitalization of $548.35 million, a PE ratio of -465.33 and a beta of 1.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31. The stock has a fifty day moving average of $27.35 and a 200-day moving average of $27.92. Malibu Boats has a one year low of $23.84 and a one year high of $39.65.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $235.70 million for the quarter, compared to analysts’ expectations of $203.46 million. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. As a group, equities analysts anticipate that Malibu Boats will post 1.34 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

A number of hedge funds have recently modified their holdings of MBUU. Intesa Sanpaolo Wealth Management purchased a new position in shares of Malibu Boats during the fourth quarter valued at $31,000. BNP Paribas Financial Markets lifted its stake in Malibu Boats by 43.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Malibu Boats by 346.3% in the 2nd 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 in the last quarter. Russell Investments Group Ltd. boosted its position in Malibu Boats by 108.5% during the 4th 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 period. Finally, Strs Ohio acquired a new stake in Malibu Boats during the 1st quarter worth about $123,000. 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.