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

Malibu Boats, Inc. (NASDAQ:MBUU) has received an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $44.57.

Several equities analysts have weighed in on MBUU shares. DA Davidson downgraded shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. KeyCorp boosted their target price on Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a report on Friday, November 1st. Finally, Robert W. Baird lifted their price target on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

Malibu Boats Trading Up 1.8 %

NASDAQ:MBUU opened at $37.59 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.52. Malibu Boats has a one year low of $30.20 and a one year high of $55.07. The company has a market cap of $741.09 million, a PE ratio of -9.44 and a beta of 1.30. The firm has a 50-day moving average of $41.60 and a 200-day moving average of $38.47.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.16. The firm had revenue of $171.60 million during the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The company’s quarterly revenue was down 32.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 earnings per share. As a group, equities research analysts expect that Malibu Boats will post 2.01 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

A number of large investors have recently bought and sold shares of the company. Pzena Investment Management LLC bought a new position in shares of Malibu Boats during the 2nd quarter worth $51,800,000. Wellington Management Group LLP boosted its position in Malibu Boats by 154.8% during the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after purchasing an additional 897,387 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Malibu Boats by 94.4% in the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after purchasing an additional 409,574 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Malibu Boats by 1,267.7% in the third quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock valued at $9,259,000 after purchasing an additional 221,133 shares during the period. Finally, Lodge Hill Capital LLC purchased a new stake in shares of Malibu Boats during the 2nd quarter valued at approximately $4,866,000. 91.35% of the stock is owned by hedge funds and other 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.