Malibu Boats, Inc. (NASDAQ:MBUU) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Malibu Boats, Inc. (NASDAQ:MBUU) has earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $49.00.

A number of research firms recently weighed in on MBUU. B. Riley cut their target price on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Robert W. Baird reaffirmed an “outperform” rating and issued a $54.00 price target on shares of Malibu Boats in a report on Friday, January 19th. Truist Financial lowered their price target on Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Finally, KeyCorp lowered their price target on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st.

Insider Activity

In other news, insider Michael K. Hooks acquired 12,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average cost of $42.82 per share, with a total value of $535,250.00. Following the completion of the acquisition, the insider now owns 12,500 shares of the company’s stock, valued at $535,250. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On Malibu Boats

Several large investors have recently modified their holdings of MBUU. IFP Advisors Inc purchased a new stake in shares of Malibu Boats during the third quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Malibu Boats during the fourth quarter worth approximately $48,000. Benjamin Edwards Inc. raised its stake in shares of Malibu Boats by 13.8% during the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after purchasing an additional 318 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Malibu Boats by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock worth $194,000 after purchasing an additional 386 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Malibu Boats during the third quarter worth approximately $203,000. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Stock Down 2.6 %

MBUU stock opened at $33.82 on Friday. The company’s 50 day moving average price is $40.74 and its 200 day moving average price is $45.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82. Malibu Boats has a fifty-two week low of $32.90 and a fifty-two week high of $62.36. The firm has a market capitalization of $690.94 million, a price-to-earnings ratio of 10.84 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The firm had revenue of $211.07 million for the quarter, compared to analyst estimates of $219.64 million. During the same period in the prior year, the firm earned $1.78 earnings per share. The business’s quarterly revenue was down 37.7% compared to the same quarter last year. On average, equities research analysts anticipate that Malibu Boats will post 2.55 EPS for the current fiscal year.

About Malibu Boats

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.