Malibu Boats, Inc. (NASDAQ:MBUU) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have been given an average rating of “Hold” by the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $38.17.

A number of analysts recently issued reports on the stock. DA Davidson upgraded shares of Malibu Boats to a “hold” rating in a research report on Monday, April 14th. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research report on Tuesday, February 4th. Robert W. Baird restated a “neutral” rating and issued a $32.00 price target (down previously from $50.00) on shares of Malibu Boats in a report on Friday, April 4th. Finally, Baird R W lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th.

Malibu Boats Stock Performance

NASDAQ:MBUU opened at $29.37 on Tuesday. The firm’s fifty day simple moving average is $29.21 and its 200-day simple moving average is $35.62. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. The stock has a market cap of $576.68 million, a PE ratio of -6.75 and a beta of 1.23. Malibu Boats has a fifty-two week low of $24.43 and a fifty-two week high of $47.82.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, May 8th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.06. The company had revenue of $228.66 million for 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 quarter in the prior year, the company earned $0.63 earnings per share. Analysts expect that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Malibu Boats by 28.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 219,769 shares of the company’s stock worth $6,743,000 after acquiring an additional 49,107 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Malibu Boats by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,216,269 shares of the company’s stock worth $37,315,000 after purchasing an additional 18,187 shares during the period. Homestead Advisers Corp grew its position in Malibu Boats by 15.3% during the first quarter. Homestead Advisers Corp now owns 48,200 shares of the company’s stock valued at $1,479,000 after purchasing an additional 6,400 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Malibu Boats in the 1st quarter valued at approximately $895,000. Finally, Pzena Investment Management LLC lifted its position in Malibu Boats by 0.8% in the 1st quarter. Pzena Investment Management LLC now owns 1,534,839 shares of the company’s stock worth $47,089,000 after buying an additional 11,486 shares in the last quarter. Hedge funds and other institutional investors 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.