Malibu Boats, Inc. (NASDAQ:MBUU) Receives Consensus Rating of “Hold” from Brokerages

Malibu Boats, Inc. (NASDAQ:MBUU) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $34.6667.

MBUU has been the subject of a number of recent research reports. Zacks Research upgraded Malibu Boats from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Truist Financial raised their target price on Malibu Boats from $30.00 to $37.00 and gave the stock a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Malibu Boats in a report on Monday, December 29th. B. Riley lowered their price objective on Malibu Boats from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Finally, Loop Capital assumed coverage on shares of Malibu Boats in a report on Monday, December 22nd. They set a “buy” rating and a $34.00 target price for the company.

Malibu Boats Stock Up 2.4%

MBUU stock opened at $34.04 on Friday. The company has a market capitalization of $654.59 million, a P/E ratio of 34.73 and a beta of 1.18. Malibu Boats has a 12 month low of $24.07 and a 12 month high of $42.49. The firm’s fifty day simple moving average is $28.66 and its 200-day simple moving average is $31.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.63 and a quick ratio of 0.68.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, October 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. Malibu Boats had a net margin of 2.31% and a return on equity of 5.28%. The firm had revenue of $194.73 million during the quarter, compared to analysts’ expectations of $182.09 million. During the same quarter last year, the company posted $0.08 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts forecast that Malibu Boats will post 1.69 earnings per share for the current year.

Malibu Boats announced that its board has approved a stock buyback plan on Friday, December 19th that permits the company to buyback $70.00 million in outstanding shares. This buyback authorization permits the company to buy up to 12.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds have recently modified their holdings of the company. Pzena Investment Management LLC increased its stake in shares of Malibu Boats by 0.6% in the 3rd quarter. Pzena Investment Management LLC now owns 1,680,244 shares of the company’s stock valued at $54,524,000 after purchasing an additional 9,267 shares in the last quarter. Cooke & Bieler LP grew its holdings in Malibu Boats by 12.4% in the third quarter. Cooke & Bieler LP now owns 1,544,091 shares of the company’s stock valued at $50,106,000 after purchasing an additional 170,178 shares during the period. Wellington Management Group LLP increased its position in shares of Malibu Boats by 5.4% in the third quarter. Wellington Management Group LLP now owns 1,328,549 shares of the company’s stock valued at $43,111,000 after buying an additional 67,682 shares in the last quarter. Twin Lions Management LLC raised its stake in shares of Malibu Boats by 60.2% during the 2nd quarter. Twin Lions Management LLC now owns 1,080,301 shares of the company’s stock worth $33,857,000 after buying an additional 405,838 shares during the period. Finally, Lodge Hill Capital LLC raised its stake in shares of Malibu Boats by 12.7% during the 3rd quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company’s stock worth $28,719,000 after buying an additional 100,000 shares during the period. 91.35% of the stock is owned by hedge funds and other institutional investors.

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.