Malibu Boats, Inc. (NASDAQ:MBUU) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Of eight firms covering Malibu Boats, five rate it Hold, two Buy and one Sell. The average 12-month price target is $31.60, versus a recent share price of $23.63.
• Quarterly results exceeded expectations: Malibu Boats reported $0.92 in EPS versus the $0.78 consensus estimate, while revenue rose 42.8% year over year to $295.54 million, above estimates of $263.89 million.
• Institutional ownership remains high: Institutional investors own approximately 91.35% of the company, with several major investment firms increasing their positions.

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) has been assigned an average recommendation of "Hold" from the eight research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $31.60.

MBUU has been the subject of a number of research reports. Raymond James Financial reiterated a "market perform" rating on shares of Malibu Boats in a research note on Monday, August 31st. Zacks Research lowered Malibu Boats from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 9th. Benchmark reiterated a "buy" rating on shares of Malibu Boats in a report on Friday, August 28th. DA Davidson reissued a "neutral" rating and set a $30.00 price target on shares of Malibu Boats in a research report on Monday, June 15th. Finally, Truist Financial raised their price objective on Malibu Boats from $31.00 to $34.00 and gave the stock a "hold" rating in a research note on Monday, July 6th.

Malibu Boats Price Performance

Shares of NASDAQ MBUU opened at $23.63 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. Malibu Boats has a fifty-two week low of $23.11 and a fifty-two week high of $34.97. The business has a 50 day moving average price of $27.69 and a two-hundred day moving average price of $26.90. The firm has a market cap of $465.04 million, a PE ratio of 337.57 and a beta of 1.15.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.14. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%.The company had revenue of $295.54 million for the quarter, compared to analyst estimates of $263.89 million. During the same period in the prior year, the company posted $0.42 EPS. Malibu Boats's quarterly revenue was up 42.8% on a year-over-year basis. Sell-side analysts expect that Malibu Boats will post 2.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Parallel Advisors LLC acquired a new position in Malibu Boats in the first quarter valued at approximately $194,403,000. Pzena Investment Management LLC raised its position in shares of Malibu Boats by 2.5% during the 4th quarter. Pzena Investment Management LLC now owns 1,721,957 shares of the company's stock worth $48,576,000 after purchasing an additional 41,713 shares during the period. Cooke & Bieler LP lifted its holdings in shares of Malibu Boats by 1.5% in the 4th quarter. Cooke & Bieler LP now owns 1,567,404 shares of the company's stock worth $44,216,000 after purchasing an additional 23,313 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Malibu Boats by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 967,068 shares of the company's stock worth $25,067,000 after purchasing an additional 52,635 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Malibu Boats by 4.4% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 694,763 shares of the company's stock valued at $18,008,000 after purchasing an additional 29,390 shares during the period. 91.35% of the stock is currently owned by institutional investors.

Malibu Boats Company Profile

Malibu Boats, Inc is a designer, manufacturer and marketer of recreational powerboats. The company produces boats for water sports, cruising, fishing and general recreation, serving consumers through a network of dealers primarily in the United States and selected international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, Cobalt luxury bowriders and runabouts, and a range of saltwater fishing and offshore boats sold under brands associated with Pursuit and Maverick Boat Group, including Pathfinder, Hewes and Cobia.

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