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

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $40.00.

Several brokerages have commented on MBUU. DA Davidson reiterated a “buy” rating and issued a $45.00 price target on shares of Malibu Boats in a research note on Tuesday, September 10th. StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Truist Financial reissued a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a research report on Monday, July 8th. Finally, B. Riley dropped their price objective on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th.

Hedge Funds Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently made changes to their positions in MBUU. Dimensional Fund Advisors LP lifted its position in Malibu Boats by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock worth $54,765,000 after acquiring an additional 38,450 shares during the period. The Manufacturers Life Insurance Company grew its position in Malibu Boats by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 435,541 shares of the company’s stock valued at $23,876,000 after buying an additional 7,844 shares during the last quarter. CastleKnight Management LP acquired a new position in Malibu Boats in the 4th quarter valued at $978,000. Dean Capital Management raised its position in Malibu Boats by 156.6% during the 4th quarter. Dean Capital Management now owns 11,965 shares of the company’s stock worth $656,000 after buying an additional 7,303 shares during the last quarter. Finally, Cim LLC acquired a new stake in shares of Malibu Boats in the 4th quarter worth $353,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Trading Up 2.1 %

Malibu Boats stock opened at $39.15 on Monday. The company has a fifty day simple moving average of $36.44 and a 200-day simple moving average of $36.64. The stock has a market cap of $800.23 million, a P/E ratio of -14.66 and a beta of 1.38. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The business had revenue of $158.70 million for the quarter, compared to analysts’ expectations of $157.54 million. During the same period last year, the firm earned $2.96 earnings per share. The firm’s quarterly revenue was down 57.4% on a year-over-year basis. As a group, sell-side analysts forecast that Malibu Boats will post 1.98 earnings per share for the current fiscal 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.