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

Key Points

• Analysts rate Malibu Boats “Hold” on average: Of six analysts, one recommends selling, four recommend holding, and one recommends buying. The average 12-month price target is $31.60, compared with the stock’s reported price of $27.95.
• Quarterly results exceeded expectations: Malibu Boats reported adjusted earnings of $0.56 per share versus the $0.29 consensus estimate, while revenue reached $235.70 million, up 3.1% year over year and above expectations.
• Institutional ownership remains high: Institutional investors and hedge funds own 91.35% of the company, with several large holders increasing their positions or initiating new stakes.

Shares of Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) have received an average rating of "Hold" from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $31.60.

A number of research firms recently issued reports on MBUU. Zacks Research lowered shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Malibu Boats from a "sell (d)" rating to a "sell (e+)" rating in a research report on Monday, May 11th. DA Davidson restated a "neutral" rating and set a $30.00 price target on shares of Malibu Boats in a report on Monday, June 15th. Truist Financial raised their price target on Malibu Boats from $31.00 to $34.00 and gave the company a "hold" rating in a research report on Monday, July 6th. Finally, Wall Street Zen raised Malibu Boats from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th.

Malibu Boats Stock Down 1.8%

Shares of MBUU stock opened at $27.95 on Thursday. The stock's 50 day simple moving average is $27.32 and its 200 day simple moving average is $28.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.44 and a current ratio of 1.31. Malibu Boats has a twelve month low of $23.84 and a twelve month high of $39.65. The company has a market capitalization of $548.89 million, a price-to-earnings ratio of -465.87 and a beta of 1.14.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.27. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The firm had revenue of $235.70 million during the quarter, compared to analysts' expectations of $203.46 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company's revenue was up 3.1% on a year-over-year basis. As a group, research analysts predict that Malibu Boats will post 1.34 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Parallel Advisors LLC acquired a new stake in shares of Malibu Boats in the first quarter worth $194,403,000. Wellington Management Group LLP increased its position in Malibu Boats by 27.1% during 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 during the period. Bank of America Corp DE raised its stake in Malibu Boats by 44.6% during the 1st quarter. Bank of America Corp DE now owns 343,042 shares of the company's stock valued at $8,892,000 after purchasing an additional 105,734 shares during the last quarter. Empowered Funds LLC acquired a new position in Malibu Boats during the 1st quarter valued at $2,321,000. Finally, Twin Lions Management LLC raised its stake in Malibu Boats by 8.2% during the 4th quarter. Twin Lions Management LLC now owns 1,138,053 shares of the company's stock valued at $32,104,000 after purchasing an additional 85,951 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.

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