Zacks Investment Research Lowers Malibu Boats (MBUU) to Hold

Zacks Investment Research cut shares of Malibu Boats (NASDAQ:MBUU) from a buy rating to a hold rating in a research note published 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. “

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Several other research analysts have also recently weighed in on the stock. BidaskClub raised shares of Malibu Boats from a hold rating to a buy rating in a report on Friday, December 29th. KeyCorp reissued an overweight rating and set a $38.00 price objective (up from $33.00) on shares of Malibu Boats in a report on Friday, February 9th. BMO Capital Markets boosted their price objective on shares of Malibu Boats from $34.00 to $40.00 and gave the company a top pick rating in a report on Tuesday, February 13th. ValuEngine raised shares of Malibu Boats from a hold rating to a buy rating in a report on Friday, February 2nd. Finally, B. Riley boosted their price objective on shares of Malibu Boats from $29.50 to $32.25 and gave the company a neutral rating in a report on Monday, February 12th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $35.28.

MBUU opened at $35.42 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.70 and a quick ratio of 0.92. Malibu Boats has a twelve month low of $21.47 and a twelve month high of $36.81. The company has a market cap of $718.86, a PE ratio of 23.46, a P/E/G ratio of 1.07 and a beta of 1.02.

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

In other Malibu Boats news, VP Dan L. Gasper sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $34.15, for a total transaction of $512,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. American International Group Inc. increased its holdings in Malibu Boats by 13.7% during the fourth quarter. American International Group Inc. now owns 13,725 shares of the company’s stock valued at $408,000 after buying an additional 1,652 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Malibu Boats by 3.2% during the third quarter. Russell Investments Group Ltd. now owns 55,860 shares of the company’s stock valued at $1,767,000 after buying an additional 1,735 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Malibu Boats by 0.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 211,658 shares of the company’s stock valued at $6,292,000 after buying an additional 1,822 shares during the last quarter. First Trust Advisors LP increased its holdings in Malibu Boats by 15.0% during the fourth quarter. First Trust Advisors LP now owns 18,160 shares of the company’s stock valued at $540,000 after buying an additional 2,371 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Malibu Boats by 126.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,445 shares of the company’s stock valued at $133,000 after buying 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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