Malibu Boats, Inc. (NASDAQ:MBUU) Receives $32.80 Consensus Target Price from Analysts

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have been assigned an average rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $32.80.

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

Institutional Trading of Malibu Boats

Institutional investors have recently bought and sold shares of the company. Cooke & Bieler LP lifted its position in Malibu Boats by 1.5% during the fourth quarter. Cooke & Bieler LP now owns 1,567,404 shares of the company’s stock valued at $44,216,000 after purchasing an additional 23,313 shares during the period. MQS Management LLC purchased a new stake in Malibu Boats during the 4th quarter valued at $233,000. Pzena Investment Management LLC boosted its stake in shares of Malibu Boats by 2.5% in the 4th quarter. Pzena Investment Management LLC now owns 1,721,957 shares of the company’s stock worth $48,576,000 after buying an additional 41,713 shares during the last quarter. Wilson Asset Management International PTY Ltd. purchased a new position in shares of Malibu Boats in the 4th quarter worth $1,325,000. Finally, UBS Group AG grew its holdings in shares of Malibu Boats by 64.3% in the fourth quarter. UBS Group AG now owns 94,509 shares of the company’s stock worth $2,666,000 after acquiring an additional 37,003 shares during the period. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Trading Up 0.6%

NASDAQ:MBUU opened at $31.42 on Thursday. The company has a 50-day moving average price of $30.80 and a 200-day moving average price of $31.35. The stock has a market cap of $584.41 million, a price-to-earnings ratio of 43.04 and a beta of 1.22. The company has a current ratio of 1.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.04. Malibu Boats has a 12 month low of $24.07 and a 12 month high of $39.65.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Malibu Boats had a net margin of 1.76% and a return on equity of 4.25%. The business had revenue of $188.62 million during the quarter, compared to analyst estimates of $181.96 million. During the same period last year, the business posted $0.31 earnings per share. Malibu Boats’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities analysts predict that Malibu Boats will post 1.69 EPS for the current year.

Malibu Boats declared that its Board of Directors has authorized a stock repurchase plan on Friday, December 19th that authorizes the company to buyback $70.00 million in shares. This buyback authorization authorizes the company to repurchase up to 12.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.