Malibu Boats, Inc. (NASDAQ:MBUU) Stock Has Average Target Price of $28.40 According to Analysts

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned 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 $28.40.

A number of equities analysts have issued reports on MBUU shares. Weiss Ratings raised shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, August 27th. Truist Financial cut their price target on shares of Malibu Boats from $34.00 to $26.00 and set a “hold” rating on the stock in a report on Friday, October 23rd. Raymond James Financial reaffirmed a “market perform” rating on shares of Malibu Boats in a research note on Monday, August 31st. Benchmark restated a “buy” rating on shares of Malibu Boats in a report on Friday, August 28th. Finally, B. Riley Financial reaffirmed a “neutral” rating and set a $22.00 price objective (down from $30.00) on shares of Malibu Boats in a research report on Friday.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Central Pacific Bank Trust Division raised its holdings in shares of Malibu Boats by 13.5% in the second quarter. Central Pacific Bank Trust Division now owns 5,304 shares of the company’s stock valued at $145,000 after purchasing an additional 630 shares during the last quarter. State of Wyoming lifted its position in shares of Malibu Boats by 10.9% in the first quarter. State of Wyoming now owns 11,619 shares of the company’s stock worth $301,000 after purchasing an additional 1,145 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Malibu Boats in the second quarter worth $35,000. Quantinno Capital Management LP lifted its position in shares of Malibu Boats by 10.6% in the first quarter. Quantinno Capital Management LP now owns 29,284 shares of the company’s stock worth $759,000 after purchasing an additional 2,796 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Malibu Boats by 16.8% during the first quarter. First Trust Advisors LP now owns 27,967 shares of the company’s stock worth $725,000 after purchasing an additional 4,024 shares during the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Stock Performance

Shares of MBUU opened at $21.16 on Friday. The business’s 50 day moving average is $23.43 and its two-hundred day moving average is $26.75. Malibu Boats has a 52-week low of $19.46 and a 52-week high of $34.97. The firm has a market cap of $416.43 million, a price-to-earnings ratio of 19.64 and a beta of 1.20. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.31.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, November 5th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.06). The business had revenue of $252.94 million for the quarter, compared to analysts’ expectations of $257.64 million. Malibu Boats had a net margin of 0.18% and a return on equity of 4.78%. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. Analysts forecast that Malibu Boats will post 2.18 EPS for the current fiscal year.

Malibu Boats Company Profile

Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. The company designs, manufactures and sells boats for watersports, boating and fishing activities, serving consumers through a network of independent dealers in the United States and international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, as well as a range of saltwater and freshwater fishing and offshore boats sold under brands including Pursuit, Maverick, Cobia, Pathfinder and Hewes.