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

Malibu Boats, Inc. (NASDAQ:MBUU) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $49.00.

MBUU has been the subject of several analyst reports. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Truist Financial dropped their target price on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. B. Riley dropped their target price on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Robert W. Baird reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Malibu Boats in a research report on Friday, January 19th. Finally, KeyCorp dropped their target price on shares of Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st.

Insider Buying and Selling at Malibu Boats

In related news, insider Michael K. Hooks purchased 12,500 shares of Malibu Boats stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the purchase, the insider now directly owns 12,500 shares of the company’s stock, valued at approximately $535,250. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors and hedge funds have recently made changes to their positions in MBUU. Raymond James Financial Services Advisors Inc. lifted its holdings in Malibu Boats by 828.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,686 shares of the company’s stock valued at $2,285,000 after purchasing an additional 37,197 shares in the last quarter. Invesco Ltd. lifted its holdings in Malibu Boats by 272.7% during the third quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock valued at $6,231,000 after purchasing an additional 93,004 shares in the last quarter. UBS Group AG lifted its holdings in Malibu Boats by 33.7% during the third quarter. UBS Group AG now owns 147,563 shares of the company’s stock valued at $7,234,000 after purchasing an additional 37,217 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Malibu Boats by 2.7% during the third quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock valued at $66,926,000 after purchasing an additional 35,474 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Malibu Boats by 1.8% during the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $2,226,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Price Performance

MBUU stock opened at $33.82 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 52 week low of $32.90 and a 52 week high of $62.36. The firm’s fifty day moving average is $40.74 and its 200 day moving average is $45.85. The firm has a market cap of $690.94 million, a P/E ratio of 10.84 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The company had revenue of $211.07 million for the quarter, compared to analyst estimates of $219.64 million. During the same quarter last year, the firm earned $1.78 EPS. The firm’s quarterly revenue was down 37.7% compared to the same quarter last year. Research analysts predict that Malibu Boats will post 2.55 earnings per share 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.