Malibu Boats, Inc. (NASDAQ:MBUU) Receives $32.40 Consensus Target Price from Analysts

Malibu Boats, Inc. (NASDAQ:MBUU) has been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $32.40.

A number of brokerages recently weighed in on MBUU. Zacks Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Griffin Securities set a $30.00 price objective on shares of Malibu Boats in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Malibu Boats in a report on Friday, March 27th. Finally, Wall Street Zen lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Saturday, February 7th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MBUU. Wellington Management Group LLP increased 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 valued at $47,621,000 after purchasing an additional 359,550 shares during the period. Cooke & Bieler LP increased its position in Malibu Boats by 12.4% during the 3rd quarter. Cooke & Bieler LP now owns 1,544,091 shares of the company’s stock valued at $50,106,000 after purchasing an additional 170,178 shares during the period. Fort Washington Investment Advisors Inc. OH increased 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 valued at $18,770,000 after purchasing an additional 159,748 shares during the period. Lodge Hill Capital LLC increased 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 valued at $28,719,000 after purchasing an additional 100,000 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Malibu Boats by 31.5% in the 2nd quarter. Bank of America Corp DE now owns 361,357 shares of the company’s stock valued at $11,325,000 after buying an additional 86,526 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Trading Up 4.5%

Shares of MBUU opened at $26.34 on Tuesday. Malibu Boats has a 1-year low of $23.92 and a 1-year high of $39.65. The company has a 50-day moving average of $26.97 and a 200 day moving average of $28.90. The firm has a market capitalization of $489.92 million, a price-to-earnings ratio of 36.08 and a beta of 1.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 0.49.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, February 5th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Malibu Boats had a net margin of 1.76% and a return on equity of 4.25%. The company had revenue of $188.62 million during the quarter, compared to analyst estimates of $181.96 million. During the same quarter last year, the business posted $0.31 EPS. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, research analysts expect that Malibu Boats will post 1.08 EPS for the current year.

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.