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

Malibu Boats, Inc. (NASDAQ:MBUU) has received an average recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $44.57.

Several research firms have recently issued reports on MBUU. Truist Financial increased their price objective on shares of Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. DA Davidson downgraded shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. Finally, Robert W. Baird boosted their price objective on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC bought a new position in shares of Malibu Boats during the second quarter worth about $51,800,000. Wellington Management Group LLP lifted its holdings in Malibu Boats by 154.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after buying an additional 897,387 shares during the last quarter. The Manufacturers Life Insurance Company grew its position 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 worth $29,560,000 after acquiring an additional 409,574 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Malibu Boats by 1,267.7% in the 3rd quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock valued at $9,259,000 after acquiring an additional 221,133 shares during the last quarter. Finally, Lodge Hill Capital LLC acquired a new stake in shares of Malibu Boats during the 2nd quarter valued at approximately $4,866,000. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Price Performance

MBUU stock opened at $43.08 on Friday. The company has a market cap of $849.54 million, a PE ratio of -10.82 and a beta of 1.30. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $41.99 and a two-hundred day moving average price of $38.12. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.16. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The business had revenue of $171.60 million during the quarter, compared to analysts’ expectations of $165.33 million. During the same quarter in the previous year, the business earned $1.07 EPS. The company’s revenue for the quarter was down 32.9% on a year-over-year basis. As a group, research analysts predict that Malibu Boats will post 2.01 EPS for the current 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.