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

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

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

Malibu Boats Stock Performance

NASDAQ:MBUU opened at $43.21 on Friday. The stock’s 50-day simple moving average is $37.72 and its 200 day simple moving average is $36.56. The company has a market cap of $883.21 million, a P/E ratio of -16.18 and a beta of 1.38. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $56.03.

Malibu Boats (NASDAQ:MBUU) last released its 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). The company had revenue of $158.70 million during the quarter, compared to analyst estimates of $157.54 million. Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. Malibu Boats’s revenue was down 57.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.96 EPS. As a group, equities analysts predict that Malibu Boats will post 1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of Malibu Boats by 315.0% during the fourth quarter. Wellington Management Group LLP now owns 64,741 shares of the company’s stock worth $3,549,000 after buying an additional 49,141 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Malibu Boats by 7.2% during the first quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after buying an additional 20,700 shares in the last quarter. PAX Financial Group LLC acquired a new position in shares of Malibu Boats during the first quarter worth $579,000. Assenagon Asset Management S.A. acquired a new position in shares of Malibu Boats during the second quarter worth $3,667,000. Finally, Lord Abbett & CO. LLC increased its holdings in Malibu Boats by 231.4% in the first quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock valued at $13,535,000 after purchasing an additional 218,378 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.