Malibu Boats (NASDAQ:MBUU) Earns Neutral Rating from B. Riley Financial

Key Points

• B. Riley Financial reaffirmed a Neutral rating on Malibu Boats and cut its price target from $30 to $22, implying 6.77% upside from the share price cited in the report.
• Analyst sentiment is broadly Hold: two analysts rate the stock Buy, five Hold and one Sell; the consensus price target is $28.40.
• Malibu Boats reported quarterly EPS of $0.15, missing the $0.21 consensus, and revenue of $252.94 million versus expectations of $257.64 million, despite year-over-year revenue growth of 28.1%.

Malibu Boats (NASDAQ:MBUU - Get Free Report)'s stock had its "neutral" rating restated by B. Riley Financial in a research note issued to investors on Friday, Benzinga reports. They presently have a $22.00 price objective on the stock, down from their prior price objective of $30.00. B. Riley Financial's price objective indicates a potential upside of 6.77% from the stock's current price.

Several other research firms have also recently commented on MBUU. Wall Street Zen cut shares of Malibu Boats from a "buy" rating to a "hold" rating in a research note on Sunday, November 1st. Benchmark reaffirmed a "buy" rating on shares of Malibu Boats in a report on Friday, August 28th. Zacks Research lowered shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 9th. Truist Financial cut their price target on shares of Malibu Boats from $34.00 to $26.00 and set a "hold" rating for the company in a report on Friday, October 23rd. Finally, Weiss Ratings raised shares of Malibu Boats from a "sell (e+)" rating to a "sell (d)" rating in a report on Thursday, August 27th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $28.40.

Malibu Boats Stock Performance

Shares of NASDAQ MBUU traded down $0.04 during mid-day trading on Friday, hitting $20.61. 104,500 shares of the company were exchanged, compared to its average volume of 282,249. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $23.72 and a 200-day simple moving average of $26.88. Malibu Boats has a 1-year low of $19.46 and a 1-year high of $34.97. The firm has a market cap of $405.51 million, a price-to-earnings ratio of 295.90 and a beta of 1.20.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.06). The firm had revenue of $252.94 million during the quarter, compared to analysts' expectations of $257.64 million. Malibu Boats had a net margin of 0.18% and a return on equity of 4.78%. The business's quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share. On average, sell-side analysts forecast that Malibu Boats will post 2.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MBUU. Penn Capital Management Company LLC boosted its position in shares of Malibu Boats by 39.9% during the 3rd quarter. Penn Capital Management Company LLC now owns 47,574 shares of the company's stock worth $1,090,000 after purchasing an additional 13,561 shares in the last quarter. Villanova Investment Management Co grew its stake in shares of Malibu Boats by 10.0% during the 3rd quarter. Villanova Investment Management Co now owns 49,634 shares of the company's stock worth $1,138,000 after purchasing an additional 4,510 shares during the period. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Malibu Boats by 10.6% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 865,239 shares of the company's stock valued at $19,831,000 after purchasing an additional 82,777 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Malibu Boats by 11.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 5,934 shares of the company's stock valued at $136,000 after purchasing an additional 630 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Malibu Boats in the second quarter valued at about $206,000. Institutional investors and hedge funds own 91.35% of the company's stock.

Malibu Boats Company Profile

Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. The company designs, manufactures and sells boats for watersports, boating and fishing activities, serving consumers through a network of independent dealers in the United States and international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, as well as a range of saltwater and freshwater fishing and offshore boats sold under brands including Pursuit, Maverick, Cobia, Pathfinder and Hewes.

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