Malibu Boats (NASDAQ:MBUU) Rating Lowered to “Hold” at Wall Street Zen

Malibu Boats (NASDAQ:MBUU) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.

Several other equities analysts have also issued reports on the company. Benchmark reaffirmed a “buy” rating on shares of Malibu Boats in a research report on Friday, August 28th. Zacks Research downgraded shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. 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. Truist Financial reduced their price objective on shares of Malibu Boats from $34.00 to $26.00 and set a “hold” rating for the company in a research note on Friday, October 23rd. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Malibu Boats in a report on Monday, August 31st. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Malibu Boats has an average rating of “Hold” and a consensus target price of $30.00.

Malibu Boats Stock Performance

Shares of MBUU opened at $24.71 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock has a market cap of $486.29 million, a P/E ratio of 353.00 and a beta of 1.19. The business’s 50 day moving average price is $24.02 and its 200-day moving average price is $27.03. Malibu Boats has a 52 week low of $21.16 and a 52 week high of $34.97.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.92 earnings per share (EPS) for the quarter, beating 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 business had revenue of $295.54 million during the quarter, compared to analysts’ expectations of $263.89 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 42.8% compared to the same quarter last year. Equities research analysts anticipate that Malibu Boats will post 2.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC purchased a new stake in shares of Malibu Boats during the 1st quarter valued at about $194,403,000. Bank of America Corp DE raised its holdings in shares of Malibu Boats by 44.6% during the first quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock valued at $8,892,000 after purchasing an additional 105,734 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Malibu Boats during the first quarter valued at approximately $2,321,000. Bank of New York Mellon Corp purchased a new position in shares of Malibu Boats during the second quarter valued at approximately $2,384,000. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of 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 valued at $19,831,000 after purchasing an additional 82,777 shares during the last quarter. 91.35% of the stock is owned by 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.