Malibu Boats, Inc. (NASDAQ:MBUU) Receives $32.80 Consensus PT from Brokerages

Malibu Boats, Inc. (NASDAQ:MBUU) has been given an average recommendation of “Hold” by the eight analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $32.3333.

Several research firms have weighed in on MBUU. Zacks Research raised Malibu Boats from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen lowered Malibu Boats from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Griffin Securities set a $30.00 price objective on shares of Malibu Boats in a research report on Tuesday, March 3rd. Loop Capital began coverage on shares of Malibu Boats in a research note on Monday, December 22nd. They issued a “buy” rating and a $34.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Malibu Boats in a research report on Monday, December 29th.

Hedge Funds Weigh In On Malibu Boats

A number of large investors have recently modified their holdings of the company. Twin Lions Management LLC boosted 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 worth $33,857,000 after buying an additional 405,838 shares in the last quarter. Wellington Management Group LLP raised its stake 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 worth $47,621,000 after acquiring an additional 359,550 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of Malibu Boats by 12.4% during 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 in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Malibu Boats by 31.6% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company’s stock worth $18,770,000 after acquiring an additional 159,748 shares during the last quarter. Finally, Lodge Hill Capital LLC boosted its stake in shares of Malibu Boats by 12.7% in the 3rd quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company’s stock valued at $28,719,000 after purchasing an additional 100,000 shares in the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Stock Performance

NASDAQ MBUU opened at $25.77 on Monday. The company’s 50 day simple moving average is $31.14 and its two-hundred day simple moving average is $30.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 0.49. Malibu Boats has a 1 year low of $24.07 and a 1 year high of $39.65. The stock has a market capitalization of $479.32 million, a PE ratio of 35.30 and a beta of 1.22.

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

Malibu Boats announced that its board has authorized a share buyback plan on Friday, December 19th that permits the company to buyback $70.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 12.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.