Analysts Set Malibu Boats, Inc. (NASDAQ:MBUU) Target Price at $31.00

Malibu Boats, Inc. (NASDAQ:MBUU) has received a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $31.00.

MBUU has been the subject of a number of analyst reports. DA Davidson reissued a “neutral” rating and issued a $30.00 price objective on shares of Malibu Boats in a research note on Monday. Zacks Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial decreased their price target on Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, April 27th. Finally, Griffin Securities set a $30.00 price objective on Malibu Boats in a research report on Tuesday, March 3rd.

Institutional Investors Weigh In On Malibu Boats

A number of institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC purchased a new position in Malibu Boats during the first quarter valued at $194,403,000. Pzena Investment Management LLC grew its position in shares of Malibu Boats by 2.5% during the fourth quarter. Pzena Investment Management LLC now owns 1,721,957 shares of the company’s stock valued at $48,576,000 after purchasing an additional 41,713 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Malibu Boats by 27.1% during the fourth quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock valued at $47,621,000 after purchasing an additional 359,550 shares in the last quarter. Cooke & Bieler LP increased its holdings in shares of Malibu Boats by 1.5% in the fourth quarter. Cooke & Bieler LP now owns 1,567,404 shares of the company’s stock worth $44,216,000 after purchasing an additional 23,313 shares during the last quarter. Finally, Twin Lions Management LLC lifted its position in shares of Malibu Boats by 8.2% in the fourth quarter. Twin Lions Management LLC now owns 1,138,053 shares of the company’s stock worth $32,104,000 after buying an additional 85,951 shares in the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Stock Performance

Shares of MBUU opened at $28.03 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $26.60 and a two-hundred day simple moving average of $28.45. The stock has a market cap of $550.43 million, a price-to-earnings ratio of -467.17 and a beta of 1.14. Malibu Boats has a 52 week low of $23.84 and a 52 week high of $39.65.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The firm had revenue of $235.70 million for the quarter, compared to analysts’ expectations of $203.46 million. During the same period in the previous year, the firm earned $0.72 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts expect that Malibu Boats will post 1.37 EPS for the current year.

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.