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

by · The Cerbat Gem

Shares of Malibu Boats, Inc. (NASDAQ:MBUU – Get Free Report) 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.

View Our Latest Report on MBUU

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 – Get Free Report) 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

(Get Free Report

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.

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