Malibu Boats, Inc. (NASDAQ:MBUU) Receives $44.57 Consensus Target Price from Analysts

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have earned an average rating of “Hold” from the seven analysts that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $44.57.

Several equities research analysts have issued reports on MBUU shares. DA Davidson cut Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Friday, November 1st. Benchmark reissued a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Friday, November 1st. Robert W. Baird upped their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. KeyCorp lifted their price target on shares of Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Truist Financial upped their price objective on shares of Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, November 1st.

Hedge Funds Weigh In On Malibu Boats

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division raised its stake in shares of Malibu Boats by 11.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after acquiring an additional 368 shares in the last quarter. Studio Investment Management LLC increased its holdings in Malibu Boats by 53.7% during the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock worth $42,000 after purchasing an additional 380 shares during the period. Principal Financial Group Inc. raised its position in Malibu Boats by 4.7% in the 2nd quarter. Principal Financial Group Inc. now owns 9,728 shares of the company’s stock valued at $341,000 after purchasing an additional 435 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Malibu Boats by 10.4% in the 2nd quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock valued at $442,000 after buying an additional 1,170 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Malibu Boats by 31.6% during the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock worth $202,000 after buying an additional 1,252 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Trading Up 2.5 %

Shares of MBUU opened at $37.29 on Wednesday. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $54.31. The firm has a market capitalization of $735.17 million, a P/E ratio of -9.37 and a beta of 1.30. The firm has a 50-day moving average price of $41.44 and a 200 day moving average price of $38.45. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.16. The business had revenue of $171.60 million during 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 business’s revenue for the quarter was down 32.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 EPS. Sell-side analysts forecast that Malibu Boats will post 2.01 EPS 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.