Malibu Boats (NASDAQ:MBUU – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.
A number of other brokerages have also recently issued reports on MBUU. DA Davidson restated a “neutral” rating and issued a $30.00 price objective on shares of Malibu Boats in a research note on Thursday, June 4th. Truist Financial dropped their price objective on shares of Malibu Boats from $34.00 to $31.00 and set a “hold” rating for the company in a research note on Monday, April 27th. Griffin Securities set a $30.00 price objective on shares of Malibu Boats in a research note on Tuesday, March 3rd. Weiss Ratings cut shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.00.
View Our Latest Stock Analysis on MBUU
Malibu Boats Trading Up 2.0%
Malibu Boats (NASDAQ:MBUU – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The company had revenue of $235.70 million during the quarter, compared to analysts’ expectations of $203.46 million. During the same quarter in the prior year, the company posted $0.72 EPS. The business’s revenue was up 3.1% on a year-over-year basis. On average, equities research analysts forecast that Malibu Boats will post 1.37 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Malibu Boats
Hedge funds have recently made changes to their positions in the company. Wilson Asset Management International PTY Ltd. acquired a new stake in shares of Malibu Boats during the 4th quarter worth about $1,325,000. Lodge Hill Capital LLC increased its position in shares of Malibu Boats by 12.7% during the 3rd quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company’s stock worth $28,719,000 after purchasing an additional 100,000 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Malibu Boats during the 3rd quarter worth about $1,041,000. Dean Capital Management increased its position in shares of Malibu Boats by 107.4% during the 3rd quarter. Dean Capital Management now owns 100,285 shares of the company’s stock worth $3,254,000 after purchasing an additional 51,927 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in shares of Malibu Boats by 31.6% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company’s stock worth $18,770,000 after purchasing an additional 159,748 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.
Malibu Boats Company Profile
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.
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