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

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have earned a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $31.60.

Several research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Malibu Boats from $31.00 to $34.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Weiss Ratings raised shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday. Benchmark restated a “buy” rating on shares of Malibu Boats in a report on Friday. DA Davidson reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Malibu Boats in a research report on Monday, June 15th. Finally, Zacks Research downgraded Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th.

Institutional Investors Weigh In On Malibu Boats

Institutional investors have recently modified their holdings of the business. Intesa Sanpaolo Wealth Management purchased a new position in Malibu Boats in the 4th quarter worth about $31,000. Public Employees Retirement System of Ohio bought a new stake in shares of Malibu Boats in the second quarter worth approximately $35,000. BNP Paribas Financial Markets grew its stake in shares of Malibu Boats by 43.3% in the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Malibu Boats by 346.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock valued at $73,000 after purchasing an additional 1,801 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Malibu Boats by 108.5% during the fourth quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock valued at $93,000 after purchasing an additional 1,718 shares during the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

Malibu Boats Stock Performance

Shares of Malibu Boats stock opened at $27.36 on Monday. Malibu Boats has a 1 year low of $23.84 and a 1 year high of $35.06. The firm’s 50-day moving average is $27.91 and its 200 day moving average is $27.41. The stock has a market cap of $538.44 million, a price-to-earnings ratio of 390.86 and a beta of 1.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 0.60.

About Malibu Boats

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.