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

Zacks Research upgraded shares of Malibu Boats (NASDAQ:MBUU) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

A number of other research firms have also weighed in on MBUU. Wall Street Zen upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Griffin Securities set a $30.00 price target on Malibu Boats in a research report on Tuesday, March 3rd. Truist Financial decreased their price target 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. Finally, DA Davidson reiterated a “neutral” rating and issued a $30.00 price target on shares of Malibu Boats in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Malibu Boats presently has a consensus rating of “Hold” and an average target price of $31.00.

Malibu Boats Price Performance

NASDAQ:MBUU opened at $27.14 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32. Malibu Boats has a 52-week low of $23.84 and a 52-week high of $39.65. The firm has a market cap of $533.03 million, a P/E ratio of -452.33 and a beta of 1.14. The business’s 50-day moving average price is $26.41 and its 200 day moving average price is $28.46.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, beating 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 quarter last year, the company posted $0.72 EPS. Malibu Boats’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, sell-side analysts predict that Malibu Boats will post 1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

A number of institutional investors have recently bought and sold shares of MBUU. Parallel Advisors LLC acquired a new stake in Malibu Boats during the 1st quarter worth about $194,403,000. Wellington Management Group LLP boosted its position in Malibu Boats by 27.1% during the 4th quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock worth $47,621,000 after acquiring an additional 359,550 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its position in Malibu Boats by 31.6% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company’s stock worth $18,770,000 after acquiring an additional 159,748 shares during the period. Bank of America Corp DE boosted its position in Malibu Boats by 44.6% during the 1st quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock worth $8,892,000 after acquiring an additional 105,734 shares during the period. Finally, Lodge Hill Capital LLC boosted its position in Malibu Boats by 12.7% during the 3rd quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company’s stock worth $28,719,000 after acquiring an additional 100,000 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.