Analysts Set Malibu Boats, Inc. (NASDAQ:MBUU) Target Price at $31.20

by · The Cerbat Gem

Shares of Malibu Boats, Inc. (NASDAQ:MBUU – Get Free Report) have earned an average recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $31.20.

MBUU has been the topic of several recent research reports. Truist Financial cut their target price on Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, April 27th. Zacks Research lowered Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Griffin Securities set a $30.00 target price on Malibu Boats in a report on Tuesday, March 3rd. Weiss Ratings lowered Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Finally, Wall Street Zen upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th.

Check Out Our Latest Stock Report on Malibu Boats

Hedge Funds Weigh In On Malibu Boats

Institutional investors have recently made changes to their positions in the business. Intesa Sanpaolo Wealth Management bought a new position in shares of Malibu Boats in the fourth quarter worth about $31,000. BNP Paribas Financial Markets increased its stake in Malibu Boats by 43.3% during the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock valued at $67,000 after acquiring an additional 643 shares during the period. Tower Research Capital LLC TRC increased its stake in Malibu Boats by 346.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock valued at $73,000 after acquiring an additional 1,801 shares during the period. Russell Investments Group Ltd. increased its stake in Malibu Boats by 108.5% during the fourth quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock valued at $93,000 after acquiring an additional 1,718 shares during the period. Finally, Strs Ohio bought a new position in Malibu Boats during the first quarter valued at about $123,000. 91.35% of the stock is currently owned by institutional investors.

Malibu Boats Price Performance

MBUU opened at $26.01 on Friday. Malibu Boats has a 1 year low of $23.84 and a 1 year high of $39.65. The stock has a fifty day moving average price of $25.96 and a 200 day moving average price of $28.30. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32. The stock has a market cap of $510.84 million, a price-to-earnings ratio of -433.50 and a beta of 1.13.

Malibu Boats (NASDAQ:MBUU – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $235.70 million for the quarter, compared to analyst estimates of $203.46 million. During the same period last year, the company earned $0.72 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Analysts forecast that Malibu Boats will post 1.08 EPS for the current fiscal year.

About Malibu Boats

(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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