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

Malibu Boats, Inc. (NASDAQ:MBUU) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $31.00.

Several brokerages have recently issued reports on MBUU. Griffin Securities set a $30.00 price target on shares of Malibu Boats in a report on Tuesday, March 3rd. Truist Financial dropped their price objective 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. DA Davidson reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Malibu Boats in a report on Thursday, June 4th. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research cut shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th.

Institutional Trading of Malibu Boats

A number of large investors have recently modified their holdings of the company. Invesco Ltd. increased its holdings in shares of Malibu Boats by 0.8% in the 4th quarter. Invesco Ltd. now owns 53,074 shares of the company’s stock worth $1,497,000 after acquiring an additional 432 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Malibu Boats by 4.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,936 shares of the company’s stock worth $355,000 after acquiring an additional 441 shares during the period. Creative Planning increased its holdings in shares of Malibu Boats by 5.0% in the 2nd quarter. Creative Planning now owns 9,471 shares of the company’s stock worth $297,000 after acquiring an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Malibu Boats by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock worth $356,000 after acquiring an additional 491 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Malibu Boats by 43.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Stock Performance

Malibu Boats stock opened at $28.02 on Wednesday. The company has a market cap of $550.31 million, a PE ratio of -467.00 and a beta of 1.14. The company has a fifty day moving average price of $26.37 and a two-hundred day moving average price of $28.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 0.44. Malibu Boats has a 12 month low of $23.84 and a 12 month high of $39.65.

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

About Malibu Boats

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.