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

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

MBUU has been the subject of several research analyst reports. Zacks Research downgraded shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Raymond James Financial reissued a “market perform” rating on shares of Malibu Boats in a research note on Monday, August 31st. Weiss Ratings upgraded shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, August 27th. DA Davidson reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Malibu Boats in a research note on Monday, June 15th. Finally, Benchmark reiterated a “buy” rating on shares of Malibu Boats in a research note on Friday, August 28th.

Hedge Funds Weigh In On Malibu Boats

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in shares of Malibu Boats by 44.6% in the first 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. Parallel Advisors LLC bought a new stake in Malibu Boats in the first quarter worth about $194,403,000. Dimensional Fund Advisors LP lifted its holdings in Malibu Boats by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 967,068 shares of the company’s stock valued at $25,067,000 after acquiring an additional 52,635 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Malibu Boats in the 2nd quarter valued at about $2,384,000. Finally, Meros Investment Management LP boosted its position in shares of Malibu Boats by 16.9% during the 4th quarter. Meros Investment Management LP now owns 157,875 shares of the company’s stock valued at $4,454,000 after purchasing an additional 22,782 shares in the last quarter. 91.35% of the stock is owned by institutional investors.

Malibu Boats Price Performance

Shares of NASDAQ:MBUU opened at $23.63 on Friday. The firm’s 50 day moving average is $27.69 and its two-hundred day moving average is $26.90. The firm has a market capitalization of $465.04 million, a P/E ratio of 337.57 and a beta of 1.15. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.31. Malibu Boats has a 52 week low of $23.11 and a 52 week high of $34.97.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.14. The company had revenue of $295.54 million during the quarter, compared to analysts’ expectations of $263.89 million. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%.The company’s revenue for the quarter was up 42.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 earnings per share. Analysts anticipate that Malibu Boats will post 2.27 earnings per share for the current year.

Malibu Boats Company Profile

Malibu Boats, Inc is a designer, manufacturer and marketer of recreational powerboats. The company produces boats for water sports, cruising, fishing and general recreation, serving consumers through a network of dealers primarily in the United States and selected international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, Cobalt luxury bowriders and runabouts, and a range of saltwater fishing and offshore boats sold under brands associated with Pursuit and Maverick Boat Group, including Pathfinder, Hewes and Cobia.