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

Malibu Boats, Inc. (NASDAQ:MBUU) has earned a consensus rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $36.50.

A number of research analysts have commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Malibu Boats in a research report on Thursday, November 20th. Zacks Research raised Malibu Boats from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. DA Davidson decreased their price target on Malibu Boats from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Monday, September 8th. Truist Financial boosted their price objective on Malibu Boats from $30.00 to $37.00 and gave the stock a “hold” rating in a report on Tuesday, October 28th. Finally, B. Riley cut their target price on shares of Malibu Boats from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday.

Malibu Boats Trading Up 2.3%

Shares of NASDAQ MBUU opened at $28.84 on Friday. Malibu Boats has a 1-year low of $24.07 and a 1-year high of $45.02. The company has a market cap of $554.51 million, a PE ratio of 37.46 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $29.68 and a two-hundred day moving average of $32.02.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. The business had revenue of $194.73 million for the quarter, compared to analysts’ expectations of $182.09 million. Malibu Boats had a net margin of 1.84% and a return on equity of 4.93%. Malibu Boats’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. As a group, equities analysts expect that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Malibu Boats by 31.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,312 shares of the company’s stock valued at $43,000 after acquiring an additional 313 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Malibu Boats by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 10,936 shares of the company’s stock valued at $355,000 after purchasing an additional 441 shares during the last quarter. Creative Planning lifted its stake in Malibu Boats by 5.0% in the second quarter. Creative Planning now owns 9,471 shares of the company’s stock valued at $297,000 after buying an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Malibu Boats by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock valued at $356,000 after buying an additional 491 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Malibu Boats by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 22,111 shares of the company’s stock worth $693,000 after buying an additional 506 shares during the last quarter. 91.35% of the stock is owned by institutional investors.

About Malibu Boats

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.