Brokerages Set Malibu Boats, Inc. (NASDAQ:MBUU) Target Price at $31.00

Malibu Boats, Inc. (NASDAQ:MBUU) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $31.60.

MBUU has been the topic of several recent analyst reports. Zacks Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 10th. Truist Financial increased their price target on Malibu Boats from $31.00 to $34.00 and gave the stock a “hold” rating in a report on Monday. DA Davidson reissued a “neutral” rating and issued a $30.00 price objective on shares of Malibu Boats in a research report on Monday, June 15th. Weiss Ratings downgraded Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th.

Institutional Trading of Malibu Boats

Several large investors have recently modified their holdings of MBUU. Parallel Advisors LLC bought a new stake in shares of Malibu Boats in the 1st quarter valued at $194,403,000. Wellington Management Group LLP grew its holdings in Malibu Boats by 27.1% in the fourth quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock worth $47,621,000 after purchasing an additional 359,550 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in Malibu Boats by 31.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company’s stock worth $18,770,000 after purchasing an additional 159,748 shares during the period. Bank of America Corp DE increased its stake in Malibu Boats by 44.6% in the first quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock valued at $8,892,000 after purchasing an additional 105,734 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Malibu Boats in the first quarter valued at $2,321,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Stock Performance

NASDAQ:MBUU opened at $26.23 on Friday. The company has a market capitalization of $515.16 million, a PE ratio of -437.17 and a beta of 1.14. The company has a 50 day simple moving average of $26.99 and a two-hundred day simple moving average of $28.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31. Malibu Boats has a fifty-two week low of $23.84 and a fifty-two week high of $39.65.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The firm had revenue of $235.70 million for the quarter, compared to the consensus estimate of $203.46 million. During the same quarter in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Research analysts anticipate that Malibu Boats will post 1.34 earnings per share 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.