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

Shares of Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) have earned an average recommendation of "Hold" from the seven brokerages that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $36.17.

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Malibu Boats from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. KeyCorp cut Malibu Boats from an "overweight" rating to a "sector weight" rating in a research report on Thursday, March 20th. Truist Financial reduced their price objective on Malibu Boats from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Monday, April 14th. DA Davidson started coverage on Malibu Boats in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $33.00 price target for the company. Finally, Baird R W cut Malibu Boats from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th.

Malibu Boats Trading Up 1.1%

Shares of NASDAQ MBUU opened at $32.76 on Wednesday. The company has a market cap of $628.66 million, a price-to-earnings ratio of -79.90 and a beta of 1.15. Malibu Boats has a 12-month low of $24.43 and a 12-month high of $47.82. The company has a current ratio of 1.60, a quick ratio of 0.61 and a debt-to-equity ratio of 0.05. The stock's 50 day simple moving average is $30.40 and its 200 day simple moving average is $33.10.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.06. Malibu Boats had a positive return on equity of 1.66% and a negative net margin of 1.19%. The business had revenue of $228.66 million for the quarter, compared to the consensus estimate of $226.44 million. During the same quarter last year, the business posted $0.63 EPS. The business's revenue was up 12.4% on a year-over-year basis. Equities research analysts expect that Malibu Boats will post 1.69 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBUU. Twin Lions Management LLC acquired a new position in shares of Malibu Boats in the 4th quarter worth approximately $19,807,000. Bank of New York Mellon Corp boosted its position in Malibu Boats by 370.5% in the 4th quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company's stock valued at $16,571,000 after buying an additional 347,144 shares during the last quarter. Lodge Hill Capital LLC boosted its position in Malibu Boats by 74.6% in the 4th quarter. Lodge Hill Capital LLC now owns 530,514 shares of the company's stock valued at $19,942,000 after buying an additional 226,650 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Malibu Boats in the 4th quarter valued at $8,221,000. Finally, Schroder Investment Management Group acquired a new position in shares of Malibu Boats in the 4th quarter valued at $6,888,000. 91.35% of the stock is currently owned by institutional investors.

About Malibu Boats

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.

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