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

Malibu Boats, Inc. (NASDAQ:MBUU) has been given a consensus rating of “Hold” by the seven analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $44.57.

Several equities analysts have commented on the stock. DA Davidson downgraded shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Friday, November 1st. Truist Financial increased their price target on shares of Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a report on Friday, November 1st. Robert W. Baird boosted their price objective on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research note on Friday, November 1st. Finally, KeyCorp lifted their price target on Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, November 1st.

Institutional Investors Weigh In On Malibu Boats

A number of large investors have recently added to or reduced their stakes in MBUU. Bessemer Group Inc. grew its holdings in shares of Malibu Boats by 7.2% during the 1st quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after purchasing an additional 20,700 shares in the last quarter. PAX Financial Group LLC acquired a new stake in Malibu Boats during the first quarter worth about $579,000. Assenagon Asset Management S.A. bought a new position in Malibu Boats in the 2nd quarter valued at about $3,667,000. Lord Abbett & CO. LLC raised its position in shares of Malibu Boats by 231.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock valued at $13,535,000 after buying an additional 218,378 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Malibu Boats by 54.8% during the 1st quarter. BNP Paribas Financial Markets now owns 19,453 shares of the company’s stock worth $842,000 after acquiring an additional 6,888 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Stock Down 0.5 %

Shares of MBUU stock opened at $41.02 on Tuesday. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $56.03. The stock has a market cap of $808.71 million, a price-to-earnings ratio of -10.45 and a beta of 1.36. The firm’s 50-day moving average is $40.57 and its 200-day moving average is $37.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.16. The firm had revenue of $171.60 million for the quarter, compared to analyst estimates of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The business’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 earnings per share. Sell-side analysts predict that Malibu Boats will post 2.01 EPS for the current year.

Malibu Boats Company Profile

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.