Malibu Boats (NASDAQ:MBUU) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Malibu Boats (NASDAQ:MBUU) issued its earnings results on Thursday. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02), Briefing.com reports. The firm had revenue of $207.04 million during the quarter, compared to analyst estimates of $195.28 million. Malibu Boats had a return on equity of 4.93% and a net margin of 1.84%.Malibu Boats’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.39) EPS.

Malibu Boats Price Performance

NASDAQ:MBUU opened at $33.20 on Friday. The business’s 50-day moving average price is $34.53 and its 200 day moving average price is $32.08. The firm has a market cap of $637.11 million, a P/E ratio of 43.12 and a beta of 1.12. Malibu Boats has a 52-week low of $24.42 and a 52-week high of $47.82. The company has a quick ratio of 0.61, a current ratio of 1.60 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MBUU. BNP Paribas Financial Markets grew its holdings in Malibu Boats by 43.3% during 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 grew its holdings 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 period. Strs Ohio acquired a new position in Malibu Boats during the first quarter worth about $123,000. State of Wyoming acquired a new position in shares of Malibu Boats in the 2nd quarter worth $238,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Malibu Boats in the 2nd quarter worth $285,000. 91.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson started coverage on Malibu Boats in a research report on Tuesday, June 3rd. They issued a “neutral” rating and a $33.00 target price for the company. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.40.

About Malibu Boats

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.