Malibu Boats, Inc. (NASDAQ:MBUU) Receives Average Rating of “Hold” from Brokerages

Malibu Boats, Inc. (NASDAQ:MBUU) has been given a consensus rating of “Hold” by the six research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $31.60.

Several brokerages have recently weighed in on MBUU. Zacks Research lowered Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Truist Financial upped their target price on Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, July 6th. DA Davidson restated a “neutral” rating and issued a $30.00 target price on shares of Malibu Boats in a research note on Monday, June 15th. Weiss Ratings cut Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th.

Malibu Boats Stock Down 1.8%

MBUU stock opened at $27.95 on Thursday. Malibu Boats has a twelve month low of $23.84 and a twelve month high of $39.65. The company has a market cap of $548.89 million, a PE ratio of -465.87 and a beta of 1.14. The business’s 50-day simple moving average is $27.32 and its 200 day simple moving average is $28.03. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $235.70 million for the quarter, compared to analyst estimates of $203.46 million. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. On average, research analysts anticipate that Malibu Boats will post 1.34 earnings per share for the current year.

Hedge Funds Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently made changes to their positions in MBUU. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Malibu Boats during the 4th quarter valued at about $31,000. BNP Paribas Financial Markets raised its position in Malibu Boats by 43.3% in the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Malibu Boats by 346.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after purchasing an additional 1,801 shares in the last quarter. Russell Investments Group Ltd. raised its position in Malibu Boats by 108.5% in the fourth quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock worth $93,000 after purchasing an additional 1,718 shares in the last quarter. Finally, Strs Ohio bought a new position in Malibu Boats during the first quarter worth about $123,000. 91.35% of the stock is owned by institutional investors.

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.