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

Malibu Boats, Inc. (NASDAQ:MBUU) has received an average rating of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $32.80.

Several analysts have recently issued reports on the company. Zacks Research upgraded Malibu Boats from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. B. Riley Financial dropped their target price on shares of Malibu Boats from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. Truist Financial increased their target price on Malibu Boats from $30.00 to $37.00 and gave the company a “hold” rating in a research note on Tuesday, October 28th. Loop Capital began coverage on shares of Malibu Boats in a research report on Monday, December 22nd. They issued a “buy” rating and a $34.00 price target for the company. Finally, Wall Street Zen cut Malibu Boats from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th.

Malibu Boats Stock Performance

Shares of NASDAQ MBUU traded down $0.62 during trading hours on Thursday, reaching $30.79. The stock had a trading volume of 13,574 shares, compared to its average volume of 196,396. Malibu Boats has a fifty-two week low of $24.07 and a fifty-two week high of $39.65. The company has a current ratio of 1.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $30.94 and a 200-day moving average of $31.32. The firm has a market cap of $572.60 million, a price-to-earnings ratio of 42.17 and a beta of 1.22.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $188.62 million during the quarter, compared to analyst estimates of $181.96 million. Malibu Boats had a return on equity of 4.25% and a net margin of 1.76%.The firm’s revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. Equities research analysts predict that Malibu Boats will post 1.69 earnings per share for the current year.

Malibu Boats announced that its Board of Directors has initiated a stock buyback program on Friday, December 19th that authorizes the company to buyback $70.00 million in shares. This buyback authorization authorizes the company to reacquire up to 12.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of Malibu Boats by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 352,897 shares of the company’s stock valued at $11,060,000 after acquiring an additional 16,422 shares during the last quarter. Pzena Investment Management LLC boosted its position in Malibu Boats by 8.9% during the second quarter. Pzena Investment Management LLC now owns 1,670,977 shares of the company’s stock worth $52,368,000 after acquiring an additional 136,138 shares during the last quarter. Twin Lions Management LLC grew its holdings in shares of 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 purchasing an additional 405,838 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in Malibu Boats by 28.6% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 505,625 shares of the company’s stock worth $16,408,000 after acquiring an additional 112,561 shares during the period. Finally, Cooke & Bieler LP boosted its position in shares of Malibu Boats by 12.4% in the third quarter. Cooke & Bieler LP now owns 1,544,091 shares of the company’s stock worth $50,106,000 after acquiring an additional 170,178 shares during the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

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.