Malibu Boats (MBUU) Downgraded by ValuEngine to “Sell”

ValuEngine lowered shares of Malibu Boats (NASDAQ:MBUU) from a hold rating to a sell rating in a research note published on Friday.

A number of other equities analysts have also weighed in on the company. Wells Fargo & Co raised Malibu Boats from a market perform rating to an outperform rating and boosted their price objective for the stock from $44.00 to $51.00 in a research note on Thursday, August 23rd. BidaskClub lowered Malibu Boats from a strong-buy rating to a buy rating in a research note on Friday, October 19th. BMO Capital Markets upped their price target on Malibu Boats from $48.00 to $62.00 and gave the company an outperform rating in a research note on Friday, September 7th. Raymond James upped their price target on Malibu Boats from $48.00 to $61.00 and gave the company a strong-buy rating in a research note on Friday, September 7th. Finally, SunTrust Banks upped their price target on Malibu Boats to $60.00 and gave the company a buy rating in a research note on Friday, September 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Malibu Boats has an average rating of Buy and an average target price of $56.57.

NASDAQ MBUU traded down $2.39 on Friday, reaching $40.20. 248,503 shares of the company were exchanged, compared to its average volume of 189,572. The firm has a market capitalization of $886.93 million, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 0.85 and a beta of 1.49. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.43 and a current ratio of 2.19. Malibu Boats has a fifty-two week low of $27.85 and a fifty-two week high of $59.57.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.13. The company had revenue of $123.50 million for the quarter, compared to analyst estimates of $113.67 million. Malibu Boats had a return on equity of 44.97% and a net margin of 6.39%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. As a group, sell-side analysts forecast that Malibu Boats will post 3.32 EPS for the current year.

In other news, CEO Jackie D. Jr. Springer sold 95,985 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $52.81, for a total value of $5,068,967.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Wayne R. Wilson sold 14,088 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $52.34, for a total value of $737,365.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 238,325 shares of company stock worth $12,448,155. Corporate insiders own 3.35% of the company’s stock.

Several hedge funds have recently bought and sold shares of MBUU. Marshall Wace LLP purchased a new stake in shares of Malibu Boats in the 3rd quarter valued at $23,934,000. Millennium Management LLC raised its holdings in shares of Malibu Boats by 1,966.0% in the 2nd quarter. Millennium Management LLC now owns 285,726 shares of the company’s stock valued at $11,983,000 after buying an additional 271,896 shares during the period. Loomis Sayles & Co. L P purchased a new stake in shares of Malibu Boats in the 3rd quarter valued at $11,783,000. Renaissance Technologies LLC raised its holdings in shares of Malibu Boats by 24.1% in the 3rd quarter. Renaissance Technologies LLC now owns 806,200 shares of the company’s stock valued at $44,115,000 after buying an additional 156,700 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in shares of Malibu Boats by 10.0% in the 2nd quarter. Macquarie Group Ltd. now owns 1,280,397 shares of the company’s stock valued at $53,700,000 after buying an additional 115,989 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

About Malibu Boats

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.

Further Reading: Return on Equity (ROE)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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