Malibu Boats, Inc. (NASDAQ:MBUU) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Malibu Boats, Inc. (NASDAQ:MBUUGet Rating) have earned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued a report on the stock in the last year is $68.57.

Several analysts have weighed in on MBUU shares. Raymond James cut their target price on Malibu Boats from $88.00 to $75.00 and set an “outperform” rating on the stock in a research note on Monday, November 7th. DA Davidson cut their target price on Malibu Boats to $48.00 in a research note on Tuesday, November 15th. BMO Capital Markets cut their target price on Malibu Boats from $94.00 to $76.00 and set an “outperform” rating on the stock in a research note on Monday, November 7th. Truist Financial cut their target price on Malibu Boats from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, October 5th. Finally, B. Riley cut their target price on Malibu Boats from $89.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, October 25th.

Malibu Boats Trading Down 2.2 %

Shares of NASDAQ MBUU opened at $56.72 on Friday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 7.16 and a beta of 1.60. Malibu Boats has a 12-month low of $46.30 and a 12-month high of $76.80. The company has a current ratio of 1.91, a quick ratio of 0.67 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $52.13 and its 200 day simple moving average is $56.31.

Malibu Boats (NASDAQ:MBUUGet Rating) last announced its quarterly earnings results on Thursday, August 25th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.10. The business had revenue of $353.20 million for the quarter, compared to the consensus estimate of $329.01 million. Malibu Boats had a return on equity of 35.49% and a net margin of 13.10%. The business’s revenue was up 27.6% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. Equities research analysts expect that Malibu Boats will post 7.93 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Several hedge funds have recently modified their holdings of MBUU. Public Employees Retirement System of Ohio grew its holdings in shares of Malibu Boats by 44.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock worth $27,000 after acquiring an additional 173 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of Malibu Boats in the 3rd quarter worth $29,000. Global Trust Asset Management LLC grew its holdings in shares of Malibu Boats by 89.6% in the 3rd quarter. Global Trust Asset Management LLC now owns 948 shares of the company’s stock worth $45,000 after acquiring an additional 448 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of Malibu Boats in the 2nd quarter worth $95,000. Finally, Captrust Financial Advisors grew its holdings in shares of Malibu Boats by 128.1% in the 1st quarter. Captrust Financial Advisors now owns 1,843 shares of the company’s stock worth $107,000 after acquiring an additional 1,035 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

About Malibu Boats

(Get Rating)

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.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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