Malibu Boats (MBUU) Downgraded by BidaskClub

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Malibu Boats (NASDAQ:MBUU) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

MBUU has been the topic of several other research reports. Wells Fargo & Co reduced their price target on shares of Malibu Boats from $58.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 18th. Zacks Investment Research upgraded shares of Malibu Boats from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, January 17th. ValuEngine upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, B. Riley upgraded shares of Malibu Boats from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Malibu Boats presently has a consensus rating of “Buy” and a consensus price target of $54.86.

Malibu Boats stock opened at $39.69 on Friday. The company has a market cap of $810.47 million, a PE ratio of 15.75, a P/E/G ratio of 0.79 and a beta of 1.84. The company has a current ratio of 1.54, a quick ratio of 0.61 and a debt-to-equity ratio of 0.86. Malibu Boats has a 1 year low of $32.03 and a 1 year high of $59.57.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Wednesday, February 6th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. Malibu Boats had a net margin of 9.44% and a return on equity of 45.92%. The company had revenue of $165.80 million for the quarter, compared to analysts’ expectations of $149.82 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. Malibu Boats’s quarterly revenue was up 44.9% on a year-over-year basis. As a group, analysts anticipate that Malibu Boats will post 3.41 earnings per share for the current fiscal year.

In related news, VP Deborah S. Kent sold 1,200 shares of the business’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $45.06, for a total value of $54,072.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.35% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MBUU. AlphaOne Investment Services LLC increased its position in Malibu Boats by 65.3% during the fourth quarter. AlphaOne Investment Services LLC now owns 866 shares of the company’s stock valued at $30,000 after acquiring an additional 342 shares during the last quarter. Meeder Asset Management Inc. increased its position in Malibu Boats by 5,954.2% during the fourth quarter. Meeder Asset Management Inc. now owns 1,453 shares of the company’s stock valued at $51,000 after acquiring an additional 1,429 shares during the last quarter. Nordea Investment Management AB bought a new position in Malibu Boats during the fourth quarter valued at $104,000. First Hawaiian Bank increased its position in Malibu Boats by 25.2% during the fourth quarter. First Hawaiian Bank now owns 5,370 shares of the company’s stock valued at $187,000 after acquiring an additional 1,080 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in Malibu Boats during the fourth quarter valued at $204,000. Institutional investors and hedge funds own 99.09% of the company’s stock.

Malibu Boats Company Profile

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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