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

Malibu Boats, Inc. (NASDAQ:MBUU) has earned an average rating of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $31.60.

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

Malibu Boats Price Performance

Shares of NASDAQ MBUU opened at $29.50 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 0.44. The company has a market cap of $579.38 million, a price-to-earnings ratio of -491.67 and a beta of 1.13. The stock’s 50-day moving average is $27.84 and its two-hundred day moving average is $27.56. Malibu Boats has a 1-year low of $23.84 and a 1-year high of $39.65.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently bought and sold shares of MBUU. Intesa Sanpaolo Wealth Management purchased a new stake in Malibu Boats during the 4th quarter worth about $31,000. Public Employees Retirement System of Ohio purchased a new position in shares of Malibu Boats in the 2nd quarter valued at about $35,000. BNP Paribas Financial Markets increased its holdings in shares of Malibu Boats by 43.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock valued at $67,000 after acquiring an additional 643 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Malibu Boats by 346.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after acquiring an additional 1,801 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Malibu Boats by 108.5% during the 4th quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock worth $93,000 after acquiring an additional 1,718 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Company Profile

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.