Zacks Research Upgrades Malibu Boats (NASDAQ:MBUU) to Strong-Buy

Malibu Boats (NASDAQ:MBUU) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

MBUU has been the subject of a number of other reports. Wall Street Zen upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. DA Davidson restated a “neutral” rating and issued a $30.00 target price on shares of Malibu Boats in a research report on Thursday, June 4th. Griffin Securities set a $30.00 target price on Malibu Boats in a research report on Tuesday, March 3rd. Finally, Truist Financial cut their target price on Malibu Boats from $34.00 to $31.00 and set a “hold” rating for the company in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.00.

Malibu Boats Stock Performance

Shares of MBUU stock opened at $27.14 on Wednesday. Malibu Boats has a 12-month low of $23.84 and a 12-month high of $39.65. The firm has a market capitalization of $533.03 million, a price-to-earnings ratio of -452.33 and a beta of 1.14. The business has a 50 day simple moving average of $26.41 and a 200 day simple moving average of $28.46. 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 (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $235.70 million during the quarter, compared to analyst estimates of $203.46 million. During the same period in the prior year, the company posted $0.72 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that Malibu Boats will post 1.37 EPS for the current year.

Institutional Investors Weigh In On Malibu Boats

Institutional investors have recently added to or reduced their stakes in the company. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Malibu Boats during the 4th quarter valued at $31,000. BNP Paribas Financial Markets lifted its position 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 valued at $67,000 after acquiring an additional 643 shares during the last quarter. Tower Research Capital LLC TRC lifted its position 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 valued at $73,000 after acquiring an additional 1,801 shares during the last quarter. Russell Investments Group Ltd. lifted its position 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 valued at $93,000 after acquiring an additional 1,718 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Malibu Boats during the 1st quarter valued at $123,000. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.