Brokerages Set Malibu Boats, Inc. (NASDAQ:MBUU) Price Target at $40.00

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

Several brokerages have recently weighed in on MBUU. StockNews.com lowered Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Truist Financial restated a “hold” rating and issued a $32.00 target price on shares of Malibu Boats in a report on Monday, July 8th. DA Davidson reiterated a “buy” rating and set a $45.00 price target on shares of Malibu Boats in a research note on Tuesday, September 10th. Finally, B. Riley decreased their price objective on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake 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 acquiring an additional 49,141 shares during the period. Bessemer Group Inc. increased its position in Malibu Boats by 7.2% during the 1st quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after purchasing an additional 20,700 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Malibu Boats by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock worth $54,765,000 after buying an additional 38,450 shares in the last quarter. PAX Financial Group LLC acquired a new stake in shares of Malibu Boats in the 1st quarter valued at approximately $579,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Malibu Boats in the second quarter valued at approximately $3,667,000. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Stock Up 2.1 %

NASDAQ MBUU opened at $39.15 on Monday. Malibu Boats has a 52 week low of $30.20 and a 52 week high of $56.03. The firm has a 50 day moving average of $36.44 and a two-hundred day moving average of $36.67. The stock has a market capitalization of $800.23 million, a PE ratio of -14.66 and a beta of 1.38.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.07). The business had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $157.54 million. Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The business’s quarterly revenue was down 57.4% compared to the same quarter last year. During the same period last year, the company earned $2.96 EPS. On average, equities research analysts expect that Malibu Boats will post 1.98 earnings per share for the current fiscal year.

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.