Malibu Boats (NASDAQ:MBUU) Shares Gap Up – Should You Buy?

Malibu Boats, Inc. (NASDAQ:MBUU) shares gapped up before the market opened on Friday . The stock had previously closed at $29.33, but opened at $30.57. Malibu Boats shares last traded at $30.2470, with a volume of 58,922 shares.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. B. Riley cut their target price on shares of Malibu Boats from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, November 25th. Truist Financial lifted their price objective on shares of Malibu Boats from $30.00 to $37.00 and gave the stock a “hold” rating in a research note on Tuesday, October 28th. DA Davidson dropped their price target on Malibu Boats from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, September 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Malibu Boats in a report on Monday. Finally, Zacks Research cut Malibu Boats from a “hold” rating to a “strong sell” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $36.50.

Malibu Boats Stock Performance

The business has a 50-day moving average price of $28.70 and a 200-day moving average price of $31.77. The company has a quick ratio of 0.68, a current ratio of 1.63 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $569.88 million, a price-to-earnings ratio of 30.26 and a beta of 1.20.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Malibu Boats had a return on equity of 5.28% and a net margin of 2.31%.The firm had revenue of $194.73 million during the quarter, compared to analysts’ expectations of $182.09 million. During the same quarter last year, the firm earned $0.08 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Hedge Funds Weigh In On Malibu Boats

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Malibu Boats by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,216,269 shares of the company’s stock worth $37,315,000 after purchasing an additional 18,187 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Malibu Boats by 28.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 219,769 shares of the company’s stock worth $6,743,000 after buying an additional 49,107 shares during the period. Nuveen LLC acquired a new stake in shares of Malibu Boats during the first quarter worth $1,717,000. Russell Investments Group Ltd. grew its holdings in shares of Malibu Boats by 233.3% during the first quarter. Russell Investments Group Ltd. now owns 15,790 shares of the company’s stock valued at $484,000 after buying an additional 11,053 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Malibu Boats by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 1,601,959 shares of the company’s stock valued at $49,148,000 after acquiring an additional 68,354 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

About Malibu Boats

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.