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

Key Points

• Analysts collectively rate Malibu Boats “Hold.” Of six analysts, four recommend holding, one rates it a sell and one a buy; the average 12-month price target is $31.60.
• Malibu Boats shares opened at $29.50, with a market capitalization of approximately $579 million. The stock has traded between $23.84 and $39.65 over the past year.
• Institutional investors and hedge funds own 91.35% of the company, with several firms recently initiating or increasing their positions.

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) has earned an average rating of "Hold" from the six ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $31.60.

A number of analysts recently weighed in on the stock. DA Davidson restated a "neutral" rating and set a $30.00 target price on shares of Malibu Boats in a research note on Monday, June 15th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Malibu Boats in a report on Friday, August 7th. Truist Financial boosted their price target on shares of Malibu Boats from $31.00 to $34.00 and gave the stock a "hold" rating in a report on Monday, July 6th. Zacks Research downgraded shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of Malibu Boats from a "sell" rating to a "hold" rating in a report on Saturday, May 9th.

Malibu Boats Price Performance

Shares of NASDAQ MBUU opened at $29.50 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 0.44. The company has a market cap of $579.38 million, a price-to-earnings ratio of -491.67 and a beta of 1.13. The stock's 50-day moving average is $27.84 and its two-hundred day moving average is $27.56. Malibu Boats has a 1-year low of $23.84 and a 1-year high of $39.65.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently bought and sold shares of MBUU. Intesa Sanpaolo Wealth Management purchased a new stake in Malibu Boats during the 4th quarter worth about $31,000. Public Employees Retirement System of Ohio purchased a new position in shares of Malibu Boats in the 2nd quarter valued at about $35,000. BNP Paribas Financial Markets increased its holdings in shares of Malibu Boats by 43.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company's stock valued at $67,000 after acquiring an additional 643 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Malibu Boats by 346.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company's stock worth $73,000 after acquiring an additional 1,801 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Malibu Boats by 108.5% during the 4th quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company's stock worth $93,000 after acquiring an additional 1,718 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source