Malibu Boats, Inc. (NASDAQ:MBUU) Receives $31.60 Average Target Price from Brokerages

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $31.60.

A number of research analysts recently weighed in on MBUU shares. DA Davidson reaffirmed a “neutral” rating and set a $30.00 price target on shares of Malibu Boats in a research note on Monday, June 15th. Wall Street Zen upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research cut shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Malibu Boats in a research note on Friday, August 7th. Finally, Truist Financial upped their price objective on Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, July 6th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC purchased a new position in Malibu Boats in the first quarter worth about $194,403,000. California State Teachers Retirement System raised its holdings in shares of Malibu Boats by 2,556.0% during the second quarter. California State Teachers Retirement System now owns 484,304 shares of the company’s stock valued at $13,284,000 after purchasing an additional 466,070 shares during the last quarter. Wellington Management Group LLP lifted its position in Malibu Boats by 27.1% during the fourth quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock valued at $47,621,000 after purchasing an additional 359,550 shares during the period. Bank of America Corp DE lifted its holdings in shares of Malibu Boats by 44.6% during the 1st quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock valued at $8,892,000 after buying an additional 105,734 shares during the period. Finally, Empowered Funds LLC bought a new position in Malibu Boats in the first quarter valued at about $2,321,000. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Trading Down 6.4%

NASDAQ:MBUU opened at $26.64 on Monday. The firm’s fifty day moving average is $27.88 and its 200-day moving average is $27.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31. Malibu Boats has a 52 week low of $23.84 and a 52 week high of $39.65. The firm has a market cap of $523.21 million, a P/E ratio of -444.00 and a beta of 1.13.

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.