Malibu Boats (NASDAQ:MBUU) Announces Quarterly Earnings Results

Malibu Boats (NASDAQ:MBUU) released its quarterly earnings data on Thursday. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.13, FiscalAI reports. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The company had revenue of $295.54 million during the quarter, compared to analyst estimates of $263.89 million.

Malibu Boats Trading Down 6.4%

MBUU opened at $26.64 on Thursday. Malibu Boats has a 12-month low of $23.84 and a 12-month high of $39.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 0.44. The stock has a market capitalization of $523.21 million, a PE ratio of -444.00 and a beta of 1.13. The firm’s fifty day moving average price is $27.88 and its 200 day moving average price is $27.45.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. DA Davidson restated a “neutral” rating and issued a $30.00 price target on shares of Malibu Boats in a report on Monday, June 15th. Zacks Research lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Truist Financial upped their target price on shares of Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Malibu Boats in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Malibu Boats has a consensus rating of “Hold” and an average price target of $31.60.

Hedge Funds Weigh In On Malibu Boats

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in Malibu Boats by 27.1% in the fourth quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock valued at $47,621,000 after acquiring an additional 359,550 shares during the period. Bank of America Corp DE lifted its holdings in shares of Malibu Boats by 31.5% in the 2nd quarter. Bank of America Corp DE now owns 361,357 shares of the company’s stock worth $11,325,000 after purchasing an additional 86,526 shares during the last quarter. Twin Lions Management LLC boosted its position in Malibu Boats by 8.2% during the 4th quarter. Twin Lions Management LLC now owns 1,138,053 shares of the company’s stock valued at $32,104,000 after purchasing an additional 85,951 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Malibu Boats by 24.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 429,732 shares of the company’s stock worth $12,123,000 after buying an additional 85,422 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Malibu Boats by 37.2% in the third quarter. Ameriprise Financial Inc. now owns 310,388 shares of the company’s stock worth $10,072,000 after buying an additional 84,146 shares during the period. Institutional investors own 91.35% of the company’s stock.

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.