Malibu Boats, Inc. (NASDAQ:MBUU) Receives $31.00 Consensus PT from Analysts

Malibu Boats, Inc. (NASDAQ:MBUU) has earned a consensus recommendation of “Hold” from the six analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $31.00.

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Griffin Securities set a $30.00 target price on shares of Malibu Boats in a report on Tuesday, March 3rd. DA Davidson reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Malibu Boats in a report on Thursday, June 4th. Truist Financial cut their target price on shares of Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, April 27th. Finally, Weiss Ratings cut shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th.

Malibu Boats Stock Up 2.7%

MBUU stock opened at $27.88 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32. Malibu Boats has a twelve month low of $23.84 and a twelve month high of $39.65. The company’s 50 day moving average is $26.46 and its two-hundred day moving average is $28.45. The stock has a market cap of $547.56 million, a P/E ratio of -464.67 and a beta of 1.14.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The company had revenue of $235.70 million for the quarter, compared to analysts’ expectations of $203.46 million. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. Research analysts expect that Malibu Boats will post 1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors have recently modified their holdings of MBUU. Parallel Advisors LLC acquired a new position in shares of Malibu Boats in the 1st quarter valued at $194,403,000. Wellington Management Group LLP increased its holdings in shares of Malibu Boats by 27.1% in the 4th quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock valued at $47,621,000 after acquiring an additional 359,550 shares during the period. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of 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 acquiring an additional 159,748 shares during the period. Bank of America Corp DE increased its holdings in shares of Malibu Boats by 44.6% in the 1st 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 during the period. Finally, Lodge Hill Capital LLC increased its holdings in shares of 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 acquiring an additional 100,000 shares during the period. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Company Profile

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.