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

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have earned an average rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. One investment 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 issued a report on the stock in the last year is $31.60.

Several brokerages recently commented on MBUU. Wall Street Zen upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research downgraded shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Truist Financial raised their price objective on Malibu Boats from $31.00 to $34.00 and gave the stock a “hold” rating in a report on Monday, July 6th. DA Davidson reaffirmed a “neutral” rating and set a $30.00 price objective on shares of Malibu Boats in a report on Monday, June 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Malibu Boats in a research report on Friday, August 7th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new position in shares of Malibu Boats during the first quarter worth approximately $194,403,000. Wellington Management Group LLP raised its position in Malibu Boats by 27.1% in the 4th quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock valued at $47,621,000 after purchasing an additional 359,550 shares during the last quarter. Bank of America Corp DE raised its position in Malibu Boats by 44.6% in the 1st quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock valued at $8,892,000 after purchasing an additional 105,734 shares during the last quarter. Empowered Funds LLC acquired a new stake in Malibu Boats during the 1st quarter worth $2,321,000. Finally, Bank of New York Mellon Corp acquired a new stake in Malibu Boats during the 2nd quarter worth $2,384,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Price Performance

Shares of NASDAQ:MBUU opened at $29.50 on Monday. The company has a market capitalization of $579.38 million, a PE ratio of -491.67 and a beta of 1.13. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32. Malibu Boats has a twelve month low of $23.84 and a twelve month high of $39.65. The firm has a 50 day simple moving average of $27.84 and a 200-day simple moving average of $27.56.

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.