Malibu Boats, Inc. (NASDAQ:MBUU) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have received a consensus rating of “Reduce” from the nine analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $36.50.

Several analysts recently weighed in on MBUU shares. DA Davidson cut their price target on shares of Malibu Boats from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Monday, September 8th. B. Riley dropped their target price on shares of Malibu Boats from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Truist Financial lifted their target price on shares of Malibu Boats from $30.00 to $37.00 and gave the company a “hold” rating in a research note on Tuesday, October 28th. Zacks Research downgraded shares of Malibu Boats from a “hold” rating to a “strong sell” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Malibu Boats in a research report on Monday.

Malibu Boats Stock Down 2.2%

Shares of NASDAQ:MBUU opened at $28.84 on Wednesday. The stock’s 50-day moving average is $28.74 and its 200 day moving average is $31.81. The company has a market cap of $554.59 million, a PE ratio of 29.43 and a beta of 1.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.63 and a quick ratio of 0.68. Malibu Boats has a 1 year low of $24.07 and a 1 year high of $42.49.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Malibu Boats had a return on equity of 5.28% and a net margin of 2.31%.The firm had revenue of $194.73 million for the quarter, compared to analyst estimates of $182.09 million. During the same period last year, the company earned $0.08 EPS. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts anticipate that Malibu Boats will post 1.69 EPS for the current year.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Malibu Boats by 532.3% during the second quarter. GAMMA Investing LLC now owns 999 shares of the company’s stock valued at $31,000 after buying an additional 841 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Malibu Boats by 43.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Malibu Boats by 346.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock valued at $73,000 after acquiring an additional 1,801 shares during the period. Strs Ohio purchased a new position in Malibu Boats during the 1st quarter valued at about $123,000. Finally, Corton Capital Inc. bought a new stake in Malibu Boats during the second quarter worth about $211,000. 91.35% of the stock is owned by hedge funds and other institutional investors.

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.