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

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

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

Malibu Boats Stock Performance

Shares of Malibu Boats stock opened at $25.07 on Friday. The firm has a 50-day moving average of $27.00 and a 200-day moving average of $28.29. The stock has a market cap of $492.37 million, a PE ratio of -417.83 and a beta of 1.14. Malibu Boats has a 52-week low of $23.84 and a 52-week high of $39.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The business had revenue of $235.70 million for the quarter, compared to analyst estimates of $203.46 million. During the same period last year, the firm earned $0.72 earnings per share. Malibu Boats’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Malibu Boats will post 1.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MBUU. Intesa Sanpaolo Wealth Management bought a new position in shares of Malibu Boats in the fourth quarter worth $31,000. BNP Paribas Financial Markets lifted its position in Malibu Boats by 43.3% during the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after purchasing an additional 643 shares during the period. Tower Research Capital LLC TRC grew its stake in Malibu Boats by 346.3% during the second 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 in the last quarter. Russell Investments Group Ltd. grew its stake in Malibu Boats by 108.5% during the fourth 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 in the last quarter. Finally, Strs Ohio bought a new position in Malibu Boats in the 1st quarter valued at about $123,000. Institutional investors own 91.35% of the company’s stock.

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.