Malibu Boats, Inc. (NASDAQ:MBUU) Receives $32.33 Average Target Price from Analysts

Malibu Boats, Inc. (NASDAQ:MBUU) has received a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $32.3333.

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Malibu Boats in a research note on Monday, December 29th. Loop Capital initiated coverage on shares of Malibu Boats in a research note on Monday, December 22nd. They issued a “buy” rating and a $34.00 price target on the stock. Zacks Research upgraded shares of Malibu Boats from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Wall Street Zen cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Griffin Securities set a $30.00 target price on shares of Malibu Boats in a research report on Tuesday, March 3rd.

Hedge Funds Weigh In On Malibu Boats

Several hedge funds have recently made changes to their positions in MBUU. AQR Capital Management LLC lifted its holdings in shares of Malibu Boats by 25.3% in the 1st quarter. AQR Capital Management LLC now owns 11,815 shares of the company’s stock valued at $362,000 after purchasing an additional 2,389 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Malibu Boats by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock valued at $356,000 after purchasing an additional 491 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Malibu Boats by 8.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 57,132 shares of the company’s stock worth $1,753,000 after buying an additional 4,496 shares during the last quarter. Strs Ohio purchased a new position in Malibu Boats during the 1st quarter worth approximately $123,000. Finally, SG Americas Securities LLC increased its position in Malibu Boats by 146.2% during the second quarter. SG Americas Securities LLC now owns 13,322 shares of the company’s stock worth $418,000 after buying an additional 7,911 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Price Performance

Malibu Boats stock opened at $26.08 on Friday. Malibu Boats has a 1-year low of $24.05 and a 1-year high of $39.65. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 0.49. The stock has a market cap of $485.09 million, a PE ratio of 35.73 and a beta of 1.22. The stock’s fifty day moving average is $29.63 and its two-hundred day moving average is $29.82.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. Malibu Boats had a return on equity of 4.25% and a net margin of 1.76%.The business had revenue of $188.62 million during the quarter, compared to analysts’ expectations of $181.96 million. During the same period in the prior year, the firm posted $0.31 EPS. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Malibu Boats will post 1.69 EPS for the current fiscal year.

Malibu Boats announced that its Board of Directors has authorized a share repurchase plan on Friday, December 19th that authorizes the company to repurchase $70.00 million in shares. This repurchase authorization authorizes the company to purchase up to 12.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.