Malibu Boats (NASDAQ:MBUU) Upgraded at Zacks Research

Zacks Research upgraded shares of Malibu Boats (NASDAQ:MBUU) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on MBUU. Wall Street Zen lowered Malibu Boats from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Malibu Boats in a research note on Friday, March 27th. Loop Capital began coverage on Malibu Boats in a research note on Monday, December 22nd. They issued a “buy” rating and a $34.00 target price on the stock. Finally, Griffin Securities set a $30.00 target price on Malibu Boats in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.40.

Malibu Boats Price Performance

MBUU opened at $24.92 on Monday. The business’s 50-day moving average is $28.36 and its two-hundred day moving average is $29.39. Malibu Boats has a 1 year low of $23.92 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 firm has a market capitalization of $463.51 million, a PE ratio of 34.14 and a beta of 1.22.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating 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 company had revenue of $188.62 million for the quarter, compared to analyst estimates of $181.96 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. Research analysts anticipate that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Malibu Boats announced that its Board of Directors has authorized a stock repurchase program on Friday, December 19th that allows the company to repurchase $70.00 million in shares. This repurchase authorization allows the company to reacquire up to 12.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Malibu Boats

Several institutional investors have recently added to or reduced their stakes in MBUU. Wellington Management Group LLP boosted 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 acquiring an additional 359,550 shares in the last quarter. Cooke & Bieler LP boosted its holdings in Malibu Boats by 12.4% in the third quarter. Cooke & Bieler LP now owns 1,544,091 shares of the company’s stock worth $50,106,000 after acquiring an additional 170,178 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted 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 acquiring an additional 159,748 shares in the last quarter. Lodge Hill Capital LLC boosted its holdings in Malibu Boats by 12.7% in the third quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company’s stock worth $28,719,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Malibu Boats by 31.5% in the second quarter. Bank of America Corp DE now owns 361,357 shares of the company’s stock worth $11,325,000 after acquiring an additional 86,526 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Company Profile

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.