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

Malibu Boats, Inc. (NASDAQ:MBUU) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $44.57.

MBUU has been the topic of several research reports. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Friday, November 1st. Robert W. Baird upped their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. KeyCorp lifted their price target on Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Benchmark restated a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Friday, November 1st. Finally, StockNews.com upgraded Malibu Boats to a “sell” rating in a report on Saturday, November 2nd.

Malibu Boats Stock Down 4.4 %

MBUU opened at $42.21 on Friday. The company has a market capitalization of $832.38 million, a PE ratio of -10.61 and a beta of 1.30. The firm has a 50-day simple moving average of $42.41 and a two-hundred day simple moving average of $38.40. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. 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 quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.16. The business had revenue of $171.60 million during the quarter, compared to analysts’ expectations of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The firm’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. Analysts forecast that Malibu Boats will post 2.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Institutional investors and hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC grew its position in Malibu Boats by 5.2% in the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after acquiring an additional 77,015 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Malibu Boats by 154.8% in 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 last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Malibu Boats by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after purchasing an additional 111,699 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Malibu Boats by 94.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after buying an additional 409,574 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Malibu Boats by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after buying an additional 43,769 shares in the last quarter. 91.35% of the stock is owned by institutional investors.

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.