Malibu Boats (NASDAQ:MBUU) Stock Rating Raised to “Buy” at Wall Street Zen

Malibu Boats (NASDAQ:MBUU) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

Several other analysts have also recently commented on the company. Benchmark restated a “buy” rating on shares of Malibu Boats in a report on Friday, August 28th. Weiss Ratings raised shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, August 27th. Raymond James Financial restated a “market perform” rating on shares of Malibu Boats in a research note on Monday, August 31st. Zacks Research cut shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Finally, Truist Financial decreased their price target on shares of Malibu Boats from $34.00 to $26.00 and set a “hold” rating on the stock in a research report on Friday. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.00.

Malibu Boats Stock Down 2.8%

Malibu Boats stock opened at $22.03 on Friday. The stock’s fifty day simple moving average is $24.76 and its 200-day simple moving average is $26.27. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $433.55 million, a P/E ratio of 314.71 and a beta of 1.19. Malibu Boats has a twelve month low of $21.16 and a twelve month high of $34.97.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, August 27th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.14. The business had revenue of $295.54 million for the quarter, compared to analyst estimates of $263.89 million. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%. The company’s revenue for the quarter was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, equities analysts expect that Malibu Boats will post 2.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several hedge funds have recently made changes to their positions in MBUU. Fort Washington Investment Advisors Inc. OH lifted its stake in Malibu Boats by 10.6% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 865,239 shares of the company’s stock valued at $19,831,000 after acquiring an additional 82,777 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Malibu Boats by 11.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 5,934 shares of the company’s stock valued at $136,000 after purchasing an additional 630 shares during the last quarter. WINTON GROUP Ltd bought a new position in Malibu Boats during the second quarter worth about $206,000. Engineers Gate Manager LP bought a new position in shares of Malibu Boats during the 2nd quarter worth approximately $1,033,000. Finally, Squarepoint Ops LLC bought a new stake in Malibu Boats in the 2nd quarter valued at $316,000. 91.35% of the stock is owned by institutional investors.

Malibu Boats Company Profile

Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. The company designs, manufactures and sells boats for watersports, boating and fishing activities, serving consumers through a network of independent dealers in the United States and international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, as well as a range of saltwater and freshwater fishing and offshore boats sold under brands including Pursuit, Maverick, Cobia, Pathfinder and Hewes.