Malibu Boats, Inc. (NASDAQ:MBUU) Stock Has Average Price Target of $31.60

Malibu Boats, Inc. (NASDAQ:MBUU) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $31.60.

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

Malibu Boats Price Performance

Shares of NASDAQ:MBUU opened at $22.68 on Tuesday. The firm has a 50 day moving average of $25.62 and a 200-day moving average of $26.41. The stock has a market capitalization of $446.34 million, a PE ratio of 324.00 and a beta of 1.19. 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 12 month low of $21.16 and a 12 month high of $34.97.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, August 27th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.14. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%. The company had revenue of $295.54 million during the quarter, compared to analysts’ expectations of $263.89 million. During the same quarter in the previous year, the firm earned $0.42 EPS. Malibu Boats’s revenue was up 42.8% on a year-over-year basis. On average, equities research analysts predict that Malibu Boats will post 2.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MBUU. Bank of America Corp DE increased its holdings in shares of Malibu Boats by 44.6% during the first quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock valued at $8,892,000 after acquiring an additional 105,734 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Malibu Boats during the 2nd quarter valued at $2,384,000. Parallel Advisors LLC bought a new position in shares of Malibu Boats during the first quarter valued at about $194,403,000. Dimensional Fund Advisors LP boosted its stake in shares of Malibu Boats by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 967,068 shares of the company’s stock worth $25,067,000 after buying an additional 52,635 shares during the last quarter. Finally, Meros Investment Management LP lifted its holdings in Malibu Boats by 16.9% during the fourth quarter. Meros Investment Management LP now owns 157,875 shares of the company’s stock worth $4,454,000 after acquiring an additional 22,782 shares during the period. 91.35% of the stock is owned by institutional investors.

Malibu Boats Company Profile

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.