Malibu Boats (NASDAQ:MBUU) Earns Neutral Rating from B. Riley Financial

Malibu Boats (NASDAQ:MBUU)‘s stock had its “neutral” rating reaffirmed by equities research analysts at B. Riley Financial in a research note issued on Friday, Benzinga reports. They presently have a $22.00 price objective on the stock, down from their prior price objective of $30.00. B. Riley Financial‘s price objective indicates a potential upside of 8.80% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Raymond James Financial restated a “market perform” rating on shares of Malibu Boats in a report on Monday, August 31st. Wall Street Zen cut Malibu Boats from a “buy” rating to a “hold” rating in a research note on Sunday, November 1st. Truist Financial lowered their price objective on Malibu Boats from $34.00 to $26.00 and set a “hold” rating for the company in a research report on Friday, October 23rd. Weiss Ratings raised Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, August 27th. Finally, Benchmark restated a “buy” rating on shares of Malibu Boats in a research note on Friday, August 28th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Malibu Boats currently has an average rating of “Hold” and a consensus target price of $28.40.

Malibu Boats Trading Down 2.0%

Shares of MBUU stock opened at $20.22 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 0.60. The firm has a market cap of $397.89 million, a PE ratio of 49.32 and a beta of 1.20. The company has a 50-day moving average of $23.55 and a two-hundred day moving average of $26.82. Malibu Boats has a 1-year low of $19.46 and a 1-year high of $34.97.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). The firm had revenue of $252.94 million for the quarter, compared to analysts’ expectations of $257.64 million. Malibu Boats had a net margin of 0.86% and a return on equity of 4.82%. The business’s revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 earnings per share. On average, analysts predict that Malibu Boats will post 2.18 EPS for the current year.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBUU. Central Pacific Bank Trust Division lifted its position 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 acquiring an additional 630 shares in the last quarter. State of Wyoming increased its position in Malibu Boats by 10.9% during the 1st 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 purchased a new stake in Malibu Boats during the 2nd quarter worth about $35,000. Quantinno Capital Management LP increased its position in Malibu Boats by 10.6% during the 1st 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 raised its stake in Malibu Boats by 16.8% in the 1st quarter. First Trust Advisors LP now owns 27,967 shares of the company’s stock valued at $725,000 after purchasing an additional 4,024 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats News Roundup

Here are the key news stories impacting Malibu Boats this week:

• Positive Sentiment: Quarterly revenue rose 28.1% year over year to $252.94 million, providing a growth offset to the weaker results. Malibu Boats quarterly results
• Negative Sentiment: Malibu reported quarterly EPS of $0.15, below the $0.21 consensus, while revenue of $252.94 million also missed estimates of $257.64 million. The earnings shortfall and sales miss weighed on investor sentiment. Malibu Boats earnings and revenue miss
• Negative Sentiment: Coverage of the results highlighted deteriorating retail activity and weaker guidance, raising concerns about demand and the company’s outlook. Sales miss and guidance concerns
• Negative Sentiment: B. Riley reaffirmed its “neutral” rating but cut its price target to $22 from $30, signaling a more cautious valuation view. B. Riley rating and target

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.