Malibu Boats (MBUU) Rating Lowered to Hold at Zacks Investment Research

Malibu Boats (NASDAQ:MBUU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday.

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. “

Several other equities research analysts have also issued reports on MBUU. BidaskClub raised Malibu Boats from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 11th. SunTrust Banks reaffirmed a “buy” rating and set a $37.00 price target on shares of Malibu Boats in a research note on Friday, February 9th. B. Riley lifted their price target on Malibu Boats from $29.50 to $32.25 and gave the stock a “neutral” rating in a research note on Monday, February 12th. ValuEngine raised Malibu Boats from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, KeyCorp reaffirmed an “overweight” rating and set a $38.00 price target (up previously from $33.00) on shares of Malibu Boats in a research note on Friday, February 9th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.28.

Malibu Boats stock opened at $35.05 on Friday. Malibu Boats has a 52 week low of $21.47 and a 52 week high of $36.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.70 and a quick ratio of 0.92. The stock has a market cap of $719.27, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 1.07 and a beta of 1.02.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.04. Malibu Boats had a return on equity of 44.97% and a net margin of 4.64%. The firm had revenue of $114.37 million during the quarter, compared to analyst estimates of $108.84 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue was up 69.0% compared to the same quarter last year. equities research analysts predict that Malibu Boats will post 2.19 earnings per share for the current fiscal year.

In other news, VP Dan L. Gasper sold 15,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $34.15, for a total value of $512,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. lifted its stake in shares of Malibu Boats by 13.7% in the 4th quarter. American International Group Inc. now owns 13,725 shares of the company’s stock valued at $408,000 after acquiring an additional 1,652 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Malibu Boats by 3.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 55,860 shares of the company’s stock valued at $1,767,000 after acquiring an additional 1,735 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Malibu Boats by 0.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 211,658 shares of the company’s stock valued at $6,292,000 after acquiring an additional 1,822 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Malibu Boats by 15.0% in the 4th quarter. First Trust Advisors LP now owns 18,160 shares of the company’s stock valued at $540,000 after acquiring an additional 2,371 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Malibu Boats by 126.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,445 shares of the company’s stock valued at $133,000 after acquiring an additional 2,485 shares during the last quarter.

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About Malibu Boats

Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.

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