Malibu Boats, Inc. (NASDAQ:MBUU) Given Consensus Rating of “Reduce” by Brokerages

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have been given a consensus rating of “Reduce” by the nine research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $36.00.

A number of brokerages recently commented on MBUU. DA Davidson lowered their price objective on Malibu Boats from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday, September 8th. Zacks Research lowered Malibu Boats from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 4th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Malibu Boats in a research report on Wednesday, October 8th.

Hedge Funds Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBUU. GAMMA Investing LLC boosted its holdings in Malibu Boats by 532.3% during the second quarter. GAMMA Investing LLC now owns 999 shares of the company’s stock worth $31,000 after buying an additional 841 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Malibu Boats by 43.3% during the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after buying an additional 643 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Malibu Boats by 346.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after buying an additional 1,801 shares during the last quarter. Strs Ohio bought a new position in Malibu Boats during the first quarter worth about $123,000. Finally, Corton Capital Inc. bought a new position in Malibu Boats during the second quarter worth about $211,000. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Performance

Shares of NASDAQ:MBUU opened at $33.82 on Tuesday. Malibu Boats has a twelve month low of $24.42 and a twelve month high of $47.82. The firm has a market cap of $650.87 million, a PE ratio of 43.92 and a beta of 1.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.58 and a current ratio of 1.63. The business has a fifty day moving average of $32.95 and a 200-day moving average of $32.21.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, August 28th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Malibu Boats had a net margin of 1.84% and a return on equity of 4.93%. The business had revenue of $207.04 million during the quarter, compared to analyst estimates of $195.28 million. During the same quarter last year, the business posted ($0.39) earnings per share. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. On average, equities research analysts predict that Malibu Boats will post 1.69 EPS for the current fiscal year.

About Malibu Boats

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.