2024-04-11 09:54:50 ET
Summary
- Shares of Malibu Boats have fallen more than 50% from their all-time high as a slowdown in sales has materialized.
- MBUU stock is trading at more than reasonable multiples, and insider buying suggests potential for brighter tidings on the horizon.
- An investment analysis around Malibu Boats follows in the paragraphs below.
Shares of recreational powerboat manufacturer Malibu Boats, Inc. ( MBUU ) have fallen more than 50% from their March 2021 all-time high as a long-anticipated slowdown has finally materialized. FY24 non-GAAP earnings are expected to fall nearly 70% on a 36% drop in sales after three years of stellar results, as the retail buyer appears to be tapped out from the post-pandemic pull through. Trading at an EV/TTM Adj. EBITDA of 3.6 and a P/E on FY25E EPS of 9.5 with access to over $300 million of debt financing, the recent insider buying in this serial acquirer merited a deeper dive. An analysis follows below....
Read the full article on Seeking Alpha
For further details see:
Malibu Boats: Navigating Turbulent Waters