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

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) 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.

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) 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

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.