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

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

A number of analysts have commented on the stock. DA Davidson reiterated a “neutral” rating and issued a $30.00 price target on shares of Malibu Boats in a research note on Monday, June 15th. Truist Financial lowered their price objective on shares of Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, April 27th. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings cut Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds have recently added to or reduced their stakes in MBUU. Intesa Sanpaolo Wealth Management acquired a new position in shares of Malibu Boats in the fourth quarter valued at $31,000. BNP Paribas Financial Markets lifted its stake in shares of Malibu Boats by 43.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after buying an additional 643 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Malibu Boats by 346.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after buying an additional 1,801 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Malibu Boats by 108.5% during the 4th quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock worth $93,000 after buying an additional 1,718 shares during the period. Finally, Strs Ohio bought a new stake in shares of Malibu Boats during the 1st quarter worth about $123,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Price Performance

NASDAQ:MBUU opened at $25.07 on Friday. Malibu Boats has a twelve month low of $23.84 and a twelve month high of $39.65. The firm has a market capitalization of $492.37 million, a price-to-earnings ratio of -417.83 and a beta of 1.14. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $27.00 and its two-hundred day moving average price is $28.29.

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

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.