Malibu Boats (NASDAQ:MBUU) Downgraded by Zacks Investment Research to “Hold”

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Malibu Boats (NASDAQ:MBUU) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Malibu Boats, Inc. operates as a designer, manufacturer and marketer of sport boats primarily in the United States. The Company sells its boats under two brands: Malibu and Axis Wake Research. Its sport boats used for water sports including water skiing, wakeboarding and wake surfing as well as for general recreational boating use. Malibu Boats, Inc. is based in Loudon, United States. “

Other equities research analysts also recently issued reports about the company. ValuEngine upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Thursday. B. Riley reduced their price target on Malibu Boats from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Monday. Wells Fargo & Co reiterated a “buy” rating on shares of Malibu Boats in a report on Friday, February 7th. Berenberg Bank started coverage on Malibu Boats in a report on Wednesday, January 15th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, KeyCorp increased their price target on Malibu Boats from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.63.

Shares of MBUU stock opened at $28.60 on Friday. Malibu Boats has a 1 year low of $22.30 and a 1 year high of $52.13. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.55 and a quick ratio of 0.61. The stock’s 50 day simple moving average is $39.77 and its two-hundred day simple moving average is $37.49. The company has a market cap of $512.15 million, a PE ratio of 8.17 and a beta of 1.89.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.24. Malibu Boats had a return on equity of 39.76% and a net margin of 9.79%. The business had revenue of $180.10 million for the quarter, compared to the consensus estimate of $164.13 million. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts expect that Malibu Boats will post 4 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. increased its holdings in Malibu Boats by 1.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,241,737 shares of the company’s stock worth $50,849,000 after purchasing an additional 20,354 shares during the period. Verus Capital Partners LLC purchased a new position in Malibu Boats during the 4th quarter worth $57,000. Geode Capital Management LLC increased its holdings in Malibu Boats by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 282,026 shares of the company’s stock worth $11,548,000 after purchasing an additional 7,450 shares during the period. Alliancebernstein L.P. increased its holdings in Malibu Boats by 735.9% during the 4th quarter. Alliancebernstein L.P. now owns 174,696 shares of the company’s stock worth $7,154,000 after purchasing an additional 153,796 shares during the period. Finally, Punch & Associates Investment Management Inc. increased its holdings in Malibu Boats by 1.6% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 445,903 shares of the company’s stock worth $18,260,000 after purchasing an additional 7,150 shares during the period. Hedge funds and other institutional investors own 98.49% 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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