Malibu Boats (NASDAQ:MBUU) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Malibu Boats (NASDAQ:MBUU) from a buy rating to a hold rating in a research report report published on Sunday morning,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on MBUU. Truist Financial cut their price target on shares of Malibu Boats from $34.00 to $26.00 and set a “hold” rating for the company in a report on Friday, October 23rd. Weiss Ratings upgraded shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, August 27th. Raymond James Financial reissued a “market perform” rating on shares of Malibu Boats in a report on Monday, August 31st. Zacks Research lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Finally, Benchmark restated a “buy” rating on shares of Malibu Boats in a research report on Friday, August 28th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.00.

Malibu Boats Stock Down 2.4%

Malibu Boats stock opened at $24.11 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 0.60. Malibu Boats has a 1-year low of $21.16 and a 1-year high of $34.97. The company has a market cap of $474.48 million, a PE ratio of 19.61 and a beta of 1.20. The stock’s 50 day moving average price is $23.92 and its 200 day moving average price is $26.99.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.14. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%. The firm had revenue of $295.54 million for the quarter, compared to analyst estimates of $263.89 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. Malibu Boats’s quarterly revenue was up 42.8% on a year-over-year basis. On average, sell-side analysts predict that Malibu Boats will post 2.18 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

A number of institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC acquired a new stake in Malibu Boats in the 1st quarter valued at about $194,403,000. Dimensional Fund Advisors LP increased its holdings in Malibu Boats by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 967,068 shares of the company’s stock valued at $25,067,000 after acquiring an additional 52,635 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in Malibu Boats by 10.6% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 865,239 shares of the company’s stock worth $19,831,000 after acquiring an additional 82,777 shares during the last quarter. Bank of America Corp DE raised its position in Malibu Boats by 44.6% during the first quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock worth $8,892,000 after acquiring an additional 105,734 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Malibu Boats during the first quarter worth about $2,321,000. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

About Malibu Boats

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.