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

Malibu Boats, Inc. (NASDAQ:MBUU) has received a consensus recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $32.3333.

Several research firms recently issued reports on MBUU. Loop Capital began coverage on Malibu Boats in a research report on Monday, December 22nd. They set a “buy” rating and a $34.00 price target on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Malibu Boats in a report on Monday, December 29th. Griffin Securities set a $30.00 target price on shares of Malibu Boats in a research note on Tuesday, March 3rd. Zacks Research upgraded shares of Malibu Boats from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th.

Institutional Trading of Malibu Boats

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Malibu Boats by 31.3% in the third quarter. GAMMA Investing LLC now owns 1,312 shares of the company’s stock worth $43,000 after purchasing an additional 313 shares during the last quarter. Invesco Ltd. raised its position in Malibu Boats by 0.8% during the 4th quarter. Invesco Ltd. now owns 53,074 shares of the company’s stock valued at $1,497,000 after purchasing an additional 432 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Malibu Boats by 4.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,936 shares of the company’s stock worth $355,000 after buying an additional 441 shares during the period. Creative Planning lifted its holdings in Malibu Boats by 5.0% in the 2nd quarter. Creative Planning now owns 9,471 shares of the company’s stock worth $297,000 after buying an additional 453 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Malibu Boats by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock worth $356,000 after buying an additional 491 shares during the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Stock Performance

NASDAQ MBUU opened at $27.40 on Friday. The company has a 50-day simple moving average of $29.78 and a two-hundred day simple moving average of $29.90. Malibu Boats has a 12-month low of $24.05 and a 12-month high of $39.65. The firm has a market cap of $509.64 million, a price-to-earnings ratio of 37.53 and a beta of 1.22. The company has a quick ratio of 0.49, a current ratio of 1.56 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last released 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 return on equity of 4.25% and a net margin of 1.76%.The firm had revenue of $188.62 million for the quarter, compared to the consensus estimate of $181.96 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. On average, equities analysts forecast that Malibu Boats will post 1.69 EPS for the current year.

Malibu Boats declared that its board has initiated a share repurchase plan on Friday, December 19th that permits the company to repurchase $70.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 12.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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.