Malibu Boats (NASDAQ:MBUU) Upgraded at Zacks Research

Malibu Boats (NASDAQ:MBUU) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts also recently issued reports on MBUU. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Truist Financial decreased their price objective on shares of Malibu Boats from $34.00 to $31.00 and set a “hold” rating for the company in a report on Monday, April 27th. Griffin Securities set a $30.00 price objective on shares of Malibu Boats in a report on Tuesday, March 3rd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $30.00 price objective on shares of Malibu Boats in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.00.

Malibu Boats Stock Performance

MBUU stock opened at $27.14 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $533.03 million, a price-to-earnings ratio of -452.33 and a beta of 1.14. Malibu Boats has a 12 month low of $23.84 and a 12 month high of $39.65. The firm has a 50 day moving average of $26.41 and a two-hundred day moving average of $28.46.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The business had revenue of $235.70 million during the quarter, compared to the consensus estimate of $203.46 million. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. Malibu Boats’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. As a group, equities analysts anticipate that Malibu Boats will post 1.37 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

Hedge funds have recently bought and sold shares of the stock. Wilson Asset Management International PTY Ltd. bought a new stake in Malibu Boats in the 4th quarter valued at $1,325,000. GSA Capital Partners LLP bought a new stake in Malibu Boats in the 3rd quarter valued at $1,041,000. Lodge Hill Capital LLC boosted its holdings in Malibu Boats by 12.7% in the 3rd quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company’s stock valued at $28,719,000 after purchasing an additional 100,000 shares during the period. Dean Capital Management boosted its holdings in Malibu Boats by 107.4% in the 3rd quarter. Dean Capital Management now owns 100,285 shares of the company’s stock valued at $3,254,000 after purchasing an additional 51,927 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in Malibu Boats by 31.6% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company’s stock valued at $18,770,000 after purchasing an additional 159,748 shares during the period. 91.35% of the stock is owned by institutional investors.

About Malibu Boats

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.