Malibu Boats, Inc. (NASDAQ:MBUU) Receives Average Rating of “Hold” from Analysts

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $32.80.

MBUU has been the subject of several recent analyst reports. 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 objective for the company. Zacks Research upgraded shares of Malibu Boats from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings restated a “sell (d)” rating on shares of Malibu Boats in a report on Monday, December 29th. Wall Street Zen downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, B. Riley Financial reduced their price objective on Malibu Boats from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, November 25th.

Institutional Investors Weigh In On Malibu Boats

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its holdings in Malibu Boats by 0.8% during the 4th quarter. Invesco Ltd. now owns 53,074 shares of the company’s stock valued at $1,497,000 after acquiring an additional 432 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of Malibu Boats during the 4th quarter worth approximately $365,000. XTX Topco Ltd acquired a new position in shares of Malibu Boats during the 4th quarter worth approximately $718,000. Wellington Management Group LLP lifted its stake in Malibu Boats by 27.1% in the 4th quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock valued at $47,621,000 after buying an additional 359,550 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Malibu Boats by 5.5% in the 4th quarter. Janus Henderson Group PLC now owns 438,163 shares of the company’s stock valued at $12,360,000 after buying an additional 23,012 shares in the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Stock Down 3.7%

MBUU opened at $29.06 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 0.49. Malibu Boats has a 12 month low of $24.07 and a 12 month high of $39.65. The stock has a market capitalization of $540.52 million, a P/E ratio of 39.81 and a beta of 1.22. The business has a 50 day simple moving average of $31.34 and a 200-day simple moving average of $31.06.

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. The firm had revenue of $188.62 million during the quarter, compared to analysts’ expectations of $181.96 million. Malibu Boats had a return on equity of 4.25% and a net margin of 1.76%.Malibu Boats’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. On average, equities analysts anticipate that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Malibu Boats declared that its Board of Directors has authorized a share repurchase plan on Friday, December 19th that permits the company to repurchase $70.00 million in shares. This repurchase authorization permits the company to reacquire up to 12.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is 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.