FY2024 EPS Estimates for Malibu Boats, Inc. Cut by Analyst (NASDAQ:MBUU)

Malibu Boats, Inc. (NASDAQ:MBUU) – B. Riley reduced their FY2024 earnings per share (EPS) estimates for Malibu Boats in a note issued to investors on Wednesday, July 10th. B. Riley analyst E. Wold now expects that the company will post earnings of $1.84 per share for the year, down from their prior forecast of $1.89. B. Riley has a “Neutral” rating and a $35.00 price objective on the stock. The consensus estimate for Malibu Boats’ current full-year earnings is $1.84 per share.

A number of other research firms have also weighed in on MBUU. KeyCorp cut their price objective on Malibu Boats from $50.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Benchmark began coverage on Malibu Boats in a research report on Wednesday, May 22nd. They set a “buy” rating and a $44.00 price objective on the stock. Truist Financial reaffirmed a “hold” rating and set a $32.00 price objective on shares of Malibu Boats in a research report on Monday. StockNews.com lowered Malibu Boats from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Raymond James lowered Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $41.14.

Malibu Boats Stock Up 5.2 %

Malibu Boats stock opened at $32.66 on Thursday. Malibu Boats has a twelve month low of $30.20 and a twelve month high of $60.72. The stock’s fifty day simple moving average is $35.34 and its 200-day simple moving average is $41.23. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $667.57 million, a P/E ratio of -12.23 and a beta of 1.40.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. Malibu Boats had a positive return on equity of 18.01% and a negative net margin of 5.19%. The business had revenue of $203.42 million for the quarter, compared to analyst estimates of $205.83 million.

Insider Activity at Malibu Boats

In related news, Director Mark W. Lanigan acquired 20,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was bought at an average price of $33.43 per share, for a total transaction of $668,600.00. Following the completion of the purchase, the director now directly owns 73,368 shares of the company’s stock, valued at approximately $2,452,692.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Malibu Boats

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of Malibu Boats by 33.1% during the third quarter. AQR Capital Management LLC now owns 94,102 shares of the company’s stock worth $4,613,000 after buying an additional 23,385 shares during the period. Vanguard Group Inc. boosted its stake in shares of Malibu Boats by 2.7% during the third quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock worth $66,926,000 after buying an additional 35,474 shares during the period. Ziegler Capital Management LLC acquired a new stake in shares of Malibu Boats during the fourth quarter worth about $2,956,000. Legato Capital Management LLC boosted its stake in shares of Malibu Boats by 156.6% during the fourth quarter. Legato Capital Management LLC now owns 11,965 shares of the company’s stock worth $656,000 after buying an additional 7,303 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of Malibu Boats by 17.5% during the fourth quarter. Raymond James & Associates now owns 12,077 shares of the company’s stock worth $662,000 after buying an additional 1,795 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.