Malibu Boats, Inc. (NASDAQ:MBUU) Stock Has Consensus Price Target of $31.60 According to Analysts

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have earned an average recommendation of “Hold” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $31.60.

Several research analysts have recently commented on the stock. Raymond James Financial reaffirmed a “market perform” rating on shares of Malibu Boats in a report on Monday, August 31st. Truist Financial boosted their price target on Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Weiss Ratings raised Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, August 27th. Benchmark restated a “buy” rating on shares of Malibu Boats in a research note on Friday, August 28th. Finally, Zacks Research lowered Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Malibu Boats during the 2nd quarter worth approximately $35,000. Central Pacific Bank Trust Division increased its stake in Malibu Boats by 11.9% in the third quarter. Central Pacific Bank Trust Division now owns 5,934 shares of the company’s stock valued at $136,000 after acquiring an additional 630 shares during the last quarter. WINTON GROUP Ltd bought a new position in Malibu Boats in the second quarter valued at approximately $206,000. Hennion & Walsh Asset Management Inc. bought a new position in Malibu Boats in the second quarter valued at approximately $222,000. Finally, AXQ Capital LP acquired a new position in Malibu Boats during the second quarter valued at approximately $272,000. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Price Performance

NASDAQ:MBUU opened at $21.72 on Tuesday. Malibu Boats has a 52 week low of $21.16 and a 52 week high of $34.97. The firm has a market cap of $427.45 million, a price-to-earnings ratio of 17.67 and a beta of 1.19. The firm’s 50-day simple moving average is $25.34 and its 200 day simple moving average is $26.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.60 and a current ratio of 1.43.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, August 27th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.14. The business had revenue of $295.54 million during the quarter, compared to analysts’ expectations of $263.89 million. Malibu Boats had a net margin of 0.18% and a return on equity of 4.78%. The business’s revenue was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 EPS. As a group, sell-side analysts predict that Malibu Boats will post 2.18 earnings per share for the current year.

About Malibu Boats

Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. Founded in 1982, the company designs and produces boats for water sports, cruising, fishing and general recreational use, selling its products through a network of independent dealers.

Its brand portfolio includes Malibu and Axis, which focus on wake and water-sports boats, as well as Pursuit, Maverick, Cobia, Pathfinder and Hewes, which offer a range of offshore, center-console and inshore fishing boats.