Malibu Boats, Inc. (NASDAQ:MBUU) Receives $40.00 Average Target Price from Brokerages

Malibu Boats, Inc. (NASDAQ:MBUU) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $40.00.

MBUU has been the subject of a number of research analyst reports. StockNews.com cut Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. B. Riley dropped their target price on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. DA Davidson reaffirmed a “buy” rating and issued a $45.00 price target on shares of Malibu Boats in a report on Tuesday, September 10th. Finally, Truist Financial reiterated a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a research report on Monday, July 8th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Studio Investment Management LLC increased its stake in Malibu Boats by 264.4% in the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after purchasing an additional 513 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Malibu Boats during the 1st quarter valued at about $84,000. SG Americas Securities LLC purchased a new position in shares of Malibu Boats during the 2nd quarter worth about $139,000. Central Pacific Bank Trust Division acquired a new stake in shares of Malibu Boats in the first quarter worth approximately $142,000. Finally, Benjamin Edwards Inc. grew its holdings in Malibu Boats by 36.5% in the first quarter. Benjamin Edwards Inc. now owns 3,573 shares of the company’s stock valued at $155,000 after purchasing an additional 955 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Trading Up 2.1 %

MBUU stock opened at $39.15 on Monday. The company’s 50-day moving average price is $36.44 and its 200 day moving average price is $36.67. Malibu Boats has a 52 week low of $30.20 and a 52 week high of $56.03. The company has a market cap of $800.23 million, a P/E ratio of -14.66 and a beta of 1.38.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). The firm had revenue of $158.70 million during the quarter, compared to analyst estimates of $157.54 million. Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The business’s revenue was down 57.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.96 EPS. On average, equities research analysts expect that Malibu Boats will post 1.98 earnings per share 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.