Malibu Boats, Inc. (NASDAQ:MBUU) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Malibu Boats, Inc. (NASDAQ:MBUUGet Free Report) have been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $50.00.

MBUU has been the topic of a number of research reports. KeyCorp cut their price target on shares of Malibu Boats from $58.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Truist Financial lowered their price objective on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. B. Riley lowered their price objective on shares of Malibu Boats from $56.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 31st. Raymond James lowered their price objective on shares of Malibu Boats from $59.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. Finally, StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Thursday.

Check Out Our Latest Stock Report on Malibu Boats

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors have recently added to or reduced their stakes in MBUU. Advisor Group Holdings Inc. increased its holdings in Malibu Boats by 18.1% during the first quarter. Advisor Group Holdings Inc. now owns 6,320 shares of the company’s stock worth $393,000 after buying an additional 970 shares during the last quarter. Raymond James & Associates increased its holdings in Malibu Boats by 95.1% during the first quarter. Raymond James & Associates now owns 6,799 shares of the company’s stock worth $394,000 after buying an additional 3,314 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Malibu Boats by 4.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 17,077 shares of the company’s stock worth $991,000 after buying an additional 707 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Malibu Boats by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 84,701 shares of the company’s stock worth $4,914,000 after purchasing an additional 1,461 shares during the period. Finally, Bank of Montreal Can boosted its position in Malibu Boats by 8.6% during the first quarter. Bank of Montreal Can now owns 3,766 shares of the company’s stock worth $239,000 after purchasing an additional 298 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Stock Performance

Shares of MBUU opened at $48.96 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82. Malibu Boats has a twelve month low of $40.29 and a twelve month high of $63.16. The firm’s 50 day moving average price is $50.30 and its two-hundred day moving average price is $49.89. The firm has a market cap of $1.00 billion, a P/E ratio of 15.69 and a beta of 1.38.

Malibu Boats (NASDAQ:MBUUGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The firm had revenue of $211.07 million for the quarter, compared to analyst estimates of $219.64 million. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The business’s revenue was down 37.7% on a year-over-year basis. On average, analysts forecast that Malibu Boats will post 3.19 EPS for the current fiscal year.

About Malibu Boats

(Get Free Report

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.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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