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

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have earned an average rating of “Hold” from the eight analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $32.80.

Several equities analysts recently weighed in on MBUU shares. B. Riley cut their price target on shares of Malibu Boats from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. Truist Financial increased their price objective on shares of Malibu Boats from $30.00 to $37.00 and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Zacks Research upgraded shares of Malibu Boats from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Loop Capital started coverage on shares of Malibu Boats in a report on Monday, December 22nd. They issued a “buy” rating and a $34.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Malibu Boats in a research note on Monday, December 29th.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds have recently bought and sold shares of MBUU. Pzena Investment Management LLC grew its position in shares of Malibu Boats by 8.9% during the 2nd quarter. Pzena Investment Management LLC now owns 1,670,977 shares of the company’s stock valued at $52,368,000 after acquiring an additional 136,138 shares during the period. Bank of New York Mellon Corp boosted its position in Malibu Boats by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 352,897 shares of the company’s stock worth $11,060,000 after purchasing an additional 16,422 shares in the last quarter. Twin Lions Management LLC grew its holdings in Malibu Boats by 60.2% in the second quarter. Twin Lions Management LLC now owns 1,080,301 shares of the company’s stock valued at $33,857,000 after purchasing an additional 405,838 shares during the period. Fort Washington Investment Advisors Inc. OH increased its position in shares of Malibu Boats by 28.6% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 505,625 shares of the company’s stock valued at $16,408,000 after buying an additional 112,561 shares in the last quarter. Finally, Inceptionr LLC acquired a new position in shares of Malibu Boats during the 2nd quarter worth approximately $263,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Up 1.6%

Shares of MBUU stock opened at $34.61 on Thursday. Malibu Boats has a fifty-two week low of $24.07 and a fifty-two week high of $39.65. The firm has a market capitalization of $665.55 million, a PE ratio of 35.32 and a beta of 1.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 1.63. The stock’s 50-day simple moving average is $30.65 and its 200-day simple moving average is $31.47.

Malibu Boats announced that its board has approved a stock repurchase program on Friday, December 19th that authorizes the company to buyback $70.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 12.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.