Malibu Boats (NASDAQ:MBUU) Raised to Buy at Wall Street Zen

Malibu Boats (NASDAQ:MBUU) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently weighed in on MBUU. Weiss Ratings upgraded shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, August 27th. Zacks Research lowered Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Benchmark reissued a “buy” rating on shares of Malibu Boats in a report on Friday, August 28th. Raymond James Financial reissued a “market perform” rating on shares of Malibu Boats in a report on Monday, August 31st. Finally, Truist Financial lowered their price objective on Malibu Boats from $34.00 to $26.00 and set a “hold” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.00.

Malibu Boats Price Performance

MBUU opened at $22.03 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. Malibu Boats has a twelve month low of $21.16 and a twelve month high of $34.97. The stock has a market capitalization of $433.55 million, a price-to-earnings ratio of 314.71 and a beta of 1.19. The firm has a 50 day moving average price of $24.76 and a 200-day moving average price of $26.29.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, August 27th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.14. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%. The company had revenue of $295.54 million for the quarter, compared to the consensus estimate of $263.89 million. During the same quarter in the prior year, the company earned $0.42 earnings per share. Malibu Boats’s revenue was up 42.8% on a year-over-year basis. Equities research analysts forecast that Malibu Boats will post 2.18 earnings per share for the current year.

Hedge Funds Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBUU. Bank of America Corp DE increased its stake in Malibu Boats by 44.6% in the 1st quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock worth $8,892,000 after acquiring an additional 105,734 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Malibu Boats during the 2nd quarter valued at approximately $2,384,000. Parallel Advisors LLC bought a new position in shares of Malibu Boats during the 1st quarter valued at approximately $194,403,000. Dimensional Fund Advisors LP grew its holdings in shares of Malibu Boats by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 967,068 shares of the company’s stock valued at $25,067,000 after purchasing an additional 52,635 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Malibu Boats in the first quarter valued at $2,321,000. 91.35% of the stock is owned by institutional investors.

Malibu Boats Company Profile

Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. The company designs, manufactures and sells boats for watersports, boating and fishing activities, serving consumers through a network of independent dealers in the United States and international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, as well as a range of saltwater and freshwater fishing and offshore boats sold under brands including Pursuit, Maverick, Cobia, Pathfinder and Hewes.