Malibu Boats (NASDAQ:MBUU) Rating Lowered to “Hold” at Zacks Research

Malibu Boats (NASDAQ:MBUU) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on the company. Weiss Ratings lowered Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday. Wall Street Zen upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial cut their price target on Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, April 27th. Finally, Griffin Securities set a $30.00 price target on Malibu Boats in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.20.

Malibu Boats Stock Up 0.1%

NASDAQ:MBUU opened at $28.14 on Tuesday. Malibu Boats has a twelve month low of $23.84 and a twelve month high of $39.65. The company has a market cap of $552.59 million, a price-to-earnings ratio of -469.00 and a beta of 1.13. The stock has a fifty day simple moving average of $26.03 and a 200-day simple moving average of $28.53. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $235.70 million for the quarter, compared to analyst estimates of $203.46 million. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. Analysts anticipate that Malibu Boats will post 1.08 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intesa Sanpaolo Wealth Management purchased a new position in Malibu Boats in the fourth quarter valued at about $31,000. BNP Paribas Financial Markets grew its stake in Malibu Boats by 43.3% in the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock valued at $67,000 after purchasing an additional 643 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Malibu Boats by 346.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock valued at $73,000 after purchasing an additional 1,801 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Malibu Boats by 108.5% in the fourth quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock valued at $93,000 after purchasing an additional 1,718 shares during the last quarter. Finally, Strs Ohio purchased a new position in Malibu Boats in the first quarter valued at about $123,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

About Malibu Boats

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.