B. Riley Analysts Cut Earnings Estimates for Malibu Boats, Inc. (NASDAQ:MBUU)

Malibu Boats, Inc. (NASDAQ:MBUU) – Research analysts at B. Riley decreased their FY2024 earnings per share estimates for Malibu Boats in a report issued on Wednesday, July 10th. B. Riley analyst E. Wold now anticipates that the company will post earnings per share of $1.84 for the year, down from their previous forecast of $1.89. B. Riley has a “Neutral” rating and a $35.00 price target on the stock. The consensus estimate for Malibu Boats’ current full-year earnings is $1.82 per share.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.14. Malibu Boats had a positive return on equity of 18.01% and a negative net margin of 5.19%. The business had revenue of $203.42 million during the quarter, compared to analysts’ expectations of $205.83 million.

Several other brokerages also recently commented on MBUU. Robert W. Baird reduced their target price on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a report on Tuesday. Raymond James downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. Truist Financial reissued a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a research note on Monday, July 8th. Finally, Benchmark initiated coverage on Malibu Boats in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $44.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Malibu Boats presently has an average rating of “Hold” and an average target price of $41.14.

Malibu Boats Trading Up 3.7 %

Shares of NASDAQ MBUU opened at $33.87 on Thursday. Malibu Boats has a 12 month low of $30.20 and a 12 month high of $60.72. The company has a market cap of $692.30 million, a price-to-earnings ratio of -12.69 and a beta of 1.40. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $35.36 and a 200-day simple moving average of $41.08.

Insider Transactions at Malibu Boats

In other news, Director Mark W. Lanigan purchased 20,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $33.43 per share, with a total value of $668,600.00. Following the purchase, the director now directly owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Malibu Boats by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock worth $66,926,000 after purchasing an additional 35,474 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Malibu Boats by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock valued at $54,765,000 after acquiring an additional 38,450 shares during the last quarter. Cooke & Bieler LP increased its holdings in shares of Malibu Boats by 35.2% during the 4th quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock valued at $50,476,000 after acquiring an additional 239,707 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Malibu Boats by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 435,541 shares of the company’s stock valued at $23,876,000 after acquiring an additional 7,844 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Malibu Boats by 14.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 365,540 shares of the company’s stock valued at $20,039,000 after acquiring an additional 46,714 shares during the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

About Malibu Boats

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.