Malibu Boats, Inc. (NASDAQ:MBUU) Receives $40.00 Average Price Target from Brokerages

Malibu Boats, Inc. (NASDAQ:MBUU) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $40.00.

Several research firms have recently weighed in on MBUU. StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. B. Riley dropped their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Truist Financial reiterated a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a research report on Monday, July 8th. Finally, DA Davidson restated a “buy” rating and set a $45.00 target price on shares of Malibu Boats in a report on Tuesday, September 10th.

Institutional Investors Weigh In On Malibu Boats

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pzena Investment Management LLC acquired a new position in shares of Malibu Boats during the second quarter valued at $51,800,000. Dimensional Fund Advisors LP boosted its stake in shares of Malibu Boats by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after purchasing an additional 111,699 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Malibu Boats by 94.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock valued at $29,560,000 after purchasing an additional 409,574 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of Malibu Boats by 231.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock worth $13,535,000 after buying an additional 218,378 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Malibu Boats by 7.2% during the first quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after buying an additional 20,700 shares during the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Price Performance

Malibu Boats stock opened at $39.68 on Friday. The firm has a market capitalization of $811.06 million, a P/E ratio of -14.86 and a beta of 1.38. The stock has a fifty day moving average price of $38.18 and a two-hundred day moving average price of $36.58. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $56.03.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.07). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The firm had revenue of $158.70 million during the quarter, compared to the consensus estimate of $157.54 million. During the same period in the previous year, the company posted $2.96 EPS. The firm’s revenue for the quarter was down 57.4% compared to the same quarter last year. On average, equities research analysts predict that Malibu Boats will post 1.98 EPS for the current fiscal year.

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.