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

by · The Markets Daily

Malibu Boats, Inc. (NASDAQ:MBUU – Get Free Report) has earned an average recommendation of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $36.1429.

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

Check Out Our Latest Research Report on Malibu Boats

Malibu Boats Stock Up 1.8%

Shares of MBUU opened at $29.45 on Wednesday. The business’s 50 day simple moving average is $28.68 and its 200-day simple moving average is $31.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.63 and a quick ratio of 0.68. The company has a market capitalization of $566.32 million, a P/E ratio of 30.05 and a beta of 1.20. Malibu Boats has a one year low of $24.07 and a one year high of $42.49.

Malibu Boats (NASDAQ:MBUU – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Malibu Boats had a return on equity of 5.28% and a net margin of 2.31%.The business had revenue of $194.73 million during the quarter, compared to analysts’ expectations of $182.09 million. During the same period in the previous year, the business posted $0.08 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, sell-side analysts predict that Malibu Boats will post 1.69 EPS for the current fiscal year.

Malibu Boats declared that its board has initiated a stock buyback program on Friday, December 19th that authorizes the company to repurchase $70.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 12.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Malibu Boats

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its stake in Malibu Boats by 233.3% during the 1st quarter. Russell Investments Group Ltd. now owns 15,790 shares of the company’s stock worth $484,000 after acquiring an additional 11,053 shares during the last quarter. Vanguard Group Inc. increased its stake in Malibu Boats by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,216,269 shares of the company’s stock valued at $37,315,000 after purchasing an additional 18,187 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Malibu Boats by 8.9% in the second quarter. Pzena Investment Management LLC now owns 1,670,977 shares of the company’s stock worth $52,368,000 after purchasing an additional 136,138 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Malibu Boats by 28.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 219,769 shares of the company’s stock worth $6,743,000 after purchasing an additional 49,107 shares in the last quarter. Finally, Twin Lions Management LLC grew its stake in Malibu Boats by 60.2% in the second quarter. Twin Lions Management LLC now owns 1,080,301 shares of the company’s stock valued at $33,857,000 after acquiring an additional 405,838 shares during the period. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Company Profile

(Get Free Report)

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.

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