Malibu Boats, Inc. (NASDAQ:MBUU) Given Average Rating of “Moderate Buy” by Analysts

Malibu Boats, Inc. (NASDAQ:MBUU) has received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $40.00.

A number of equities analysts recently commented on MBUU shares. B. Riley decreased their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Truist Financial reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a report on Monday, July 8th. Finally, DA Davidson reiterated a “buy” rating and set a $45.00 target price on shares of Malibu Boats in a research note on Tuesday, September 10th.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently modified their holdings of the company. Studio Investment Management LLC raised its stake in Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after acquiring an additional 513 shares in the last quarter. nVerses Capital LLC acquired a new position in Malibu Boats in the 3rd quarter valued at approximately $74,000. EntryPoint Capital LLC purchased a new stake in shares of Malibu Boats during the first quarter worth $84,000. Central Pacific Bank Trust Division purchased a new stake in shares of Malibu Boats during the 1st quarter worth about $142,000. Finally, Benjamin Edwards Inc. raised its position in Malibu Boats by 36.5% during the first quarter. Benjamin Edwards Inc. now owns 3,573 shares of the company’s stock valued at $155,000 after acquiring an additional 955 shares in the last quarter. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Up 1.9 %

MBUU stock opened at $43.43 on Friday. The stock’s 50 day moving average is $37.56 and its two-hundred day moving average is $36.65. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $56.03. The company has a market capitalization of $887.71 million, a PE ratio of -16.27 and a beta of 1.38.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The company had revenue of $158.70 million during the quarter, compared to the consensus estimate of $157.54 million. During the same quarter last year, the firm posted $2.96 EPS. The firm’s quarterly revenue was down 57.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Malibu Boats will post 1.98 EPS for the current year.

Malibu Boats Company Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.