Malibu Boats, Inc. (NASDAQ:MBUU) Receives Consensus Recommendation of “Hold” from Brokerages

Malibu Boats, Inc. (NASDAQ:MBUU) has earned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $44.57.

A number of research analysts have recently commented on the company. DA Davidson cut Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research note on Friday, November 1st. StockNews.com raised Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. KeyCorp boosted their price target on Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Robert W. Baird lifted their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Benchmark reissued a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a report on Friday, November 1st.

Malibu Boats Stock Performance

NASDAQ:MBUU opened at $41.02 on Tuesday. Malibu Boats has a twelve month low of $30.20 and a twelve month high of $56.03. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $40.57 and its 200 day simple moving average is $37.31. The firm has a market capitalization of $808.71 million, a PE ratio of -10.45 and a beta of 1.36.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The company had revenue of $171.60 million for the quarter, compared to analyst estimates of $165.33 million. During the same period in the previous year, the firm posted $1.07 EPS. The firm’s revenue was down 32.9% on a year-over-year basis. On average, analysts anticipate that Malibu Boats will post 2.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

A number of institutional investors have recently modified their holdings of the company. Studio Investment Management LLC lifted its holdings 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 buying an additional 513 shares during the period. nVerses Capital LLC bought a new stake in shares of Malibu Boats during the 3rd quarter valued at about $74,000. EntryPoint Capital LLC acquired a new stake in Malibu Boats during the first quarter worth approximately $84,000. SG Americas Securities LLC acquired a new stake in Malibu Boats during the second quarter worth approximately $139,000. Finally, Benjamin Edwards Inc. lifted its stake in Malibu Boats by 43.1% in the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock valued at $179,000 after buying an additional 1,539 shares during the period. 91.35% of the stock is owned by 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.