Malibu Boats, Inc. (NASDAQ:MBUU) Given Average Rating of “Hold” by Brokerages

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have received an average rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $43.43.

A number of brokerages have recently weighed in on MBUU. Truist Financial reduced their price target on shares of Malibu Boats from $42.00 to $34.00 and set a “hold” rating for the company in a research note on Tuesday. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Friday, November 1st. KeyCorp lifted their price target on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Robert W. Baird boosted their price objective on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research note on Friday, November 1st.

Malibu Boats Trading Down 2.8 %

Shares of MBUU stock opened at $35.61 on Wednesday. Malibu Boats has a 1 year low of $30.20 and a 1 year high of $54.31. The firm has a market capitalization of $702.05 million, a PE ratio of -8.95 and a beta of 1.32. The stock has a fifty day moving average of $41.20 and a two-hundred day moving average of $38.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. The business had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The company’s revenue was down 32.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.07 earnings per share. As a group, research analysts expect that Malibu Boats will post 2.01 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

A number of hedge funds have recently modified their holdings of the stock. Pzena Investment Management LLC lifted its holdings in shares of Malibu Boats by 5.2% during the third quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after purchasing an additional 77,015 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Malibu Boats by 154.8% in the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after buying an additional 897,387 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Malibu Boats by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after acquiring an additional 111,699 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Malibu Boats by 94.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock valued at $29,560,000 after purchasing an additional 409,574 shares during the period. Finally, Geode Capital Management LLC raised its position in Malibu Boats by 8.2% during the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after buying an additional 43,769 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.