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

Malibu Boats, Inc. (NASDAQ:MBUU) has earned an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $31.60.

A number of equities analysts recently issued reports on the stock. Truist Financial raised their price objective 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. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings cut shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. DA Davidson reiterated a “neutral” rating and issued a $30.00 price target on shares of Malibu Boats in a research report on Monday, June 15th. Finally, Zacks Research downgraded shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Thursday.

Institutional Trading of Malibu Boats

A number of institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in shares of Malibu Boats by 25.3% during the 1st quarter. AQR Capital Management LLC now owns 11,815 shares of the company’s stock worth $362,000 after buying an additional 2,389 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Malibu Boats by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock valued at $356,000 after acquiring an additional 491 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Malibu Boats by 8.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 57,132 shares of the company’s stock worth $1,753,000 after purchasing an additional 4,496 shares during the last quarter. Strs Ohio purchased a new position in Malibu Boats in the first quarter worth $123,000. Finally, Creative Planning increased its position in shares of Malibu Boats by 5.0% during the second quarter. Creative Planning now owns 9,471 shares of the company’s stock worth $297,000 after purchasing an additional 453 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors.

Malibu Boats Trading Up 1.9%

Shares of NASDAQ:MBUU traded up $0.51 on Friday, hitting $26.74. The company had a trading volume of 229,256 shares, compared to its average volume of 307,047. The firm’s 50-day simple moving average is $27.02 and its two-hundred day simple moving average is $28.18. The firm has a market capitalization of $525.09 million, a price-to-earnings ratio of -445.67 and a beta of 1.14. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32. Malibu Boats has a 1 year low of $23.84 and a 1 year high of $39.65.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The firm had revenue of $235.70 million for the quarter, compared to the consensus estimate of $203.46 million. During the same period in the prior year, the firm earned $0.72 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Malibu Boats will post 1.34 earnings per share for the current fiscal 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.