Analysts Set Malibu Boats, Inc. (NASDAQ:MBUU) Price Target at $38.17

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have received an average rating of “Hold” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $36.17.

MBUU has been the subject of a number of recent analyst reports. B. Riley raised Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. KeyCorp downgraded Malibu Boats from an “overweight” rating to a “sector weight” rating in a report on Thursday, March 20th. DA Davidson initiated coverage on Malibu Boats in a report on Tuesday. They set a “neutral” rating and a $33.00 price target for the company. Wall Street Zen raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Truist Financial decreased their price target on Malibu Boats from $38.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 14th.

Malibu Boats Trading Up 1.0%

NASDAQ:MBUU opened at $31.48 on Friday. The firm has a market cap of $604.13 million, a PE ratio of -7.24 and a beta of 1.15. The stock has a fifty day moving average price of $29.29 and a 200 day moving average price of $34.09. Malibu Boats has a 12-month low of $24.43 and a 12-month high of $47.82. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, May 8th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The firm had revenue of $228.66 million during the quarter, compared to analyst estimates of $226.44 million. Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. Malibu Boats’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. Sell-side analysts anticipate that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in Malibu Boats during the fourth quarter worth approximately $38,000. Quarry LP acquired a new position in Malibu Boats during the fourth quarter worth approximately $45,000. Strs Ohio acquired a new position in Malibu Boats during the first quarter worth approximately $123,000. KLP Kapitalforvaltning AS acquired a new position in Malibu Boats during the fourth quarter worth approximately $150,000. Finally, GAMMA Investing LLC raised its stake in Malibu Boats by 2,154.4% during the 1st quarter. GAMMA Investing LLC now owns 4,847 shares of the company’s stock valued at $158,000 after acquiring an additional 4,632 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Company Profile

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.