Malibu Boats, Inc. (NASDAQ:MBUU) Receives $32.33 Consensus Price Target from Analysts

Malibu Boats, Inc. (NASDAQ:MBUU) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $32.3333.

Several research analysts have recently issued reports on MBUU shares. Griffin Securities set a $30.00 price target on shares of Malibu Boats in a report on Tuesday, March 3rd. Loop Capital initiated coverage on Malibu Boats in a research report on Monday, December 22nd. They set a “buy” rating and a $34.00 price objective on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Malibu Boats in a research report on Friday, March 27th. Wall Street Zen downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Zacks Research raised Malibu Boats from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th.

Malibu Boats Trading Down 3.4%

Shares of Malibu Boats stock opened at $24.48 on Friday. The firm has a market capitalization of $455.33 million, a PE ratio of 33.53 and a beta of 1.22. The company has a current ratio of 1.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $29.00 and its 200 day moving average is $29.65. Malibu Boats has a 1 year low of $24.00 and a 1 year high of $39.65.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. Malibu Boats had a net margin of 1.76% and a return on equity of 4.25%. The business had revenue of $188.62 million during the quarter, compared to the consensus estimate of $181.96 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. Equities research analysts forecast that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Malibu Boats declared that its board has initiated a stock buyback plan on Friday, December 19th that permits the company to repurchase $70.00 million in shares. This repurchase authorization permits the company to buy up to 12.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds have recently added to or reduced their stakes in MBUU. Intesa Sanpaolo Wealth Management acquired a new position in Malibu Boats in the 4th quarter valued at approximately $31,000. GAMMA Investing LLC grew its stake in shares of Malibu Boats by 31.3% in the third quarter. GAMMA Investing LLC now owns 1,312 shares of the company’s stock worth $43,000 after purchasing an additional 313 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Malibu Boats by 43.3% in the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock valued at $67,000 after purchasing an additional 643 shares during the period. Tower Research Capital LLC TRC increased its holdings in Malibu Boats by 346.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock valued at $73,000 after purchasing an additional 1,801 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Malibu Boats by 108.5% during the 4th quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock worth $93,000 after purchasing an additional 1,718 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Company Profile

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.