Malibu Boats (NASDAQ:MBUU) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of Malibu Boats (NASDAQ:MBUU) from a hold rating to a sell rating in a research report sent to investors on Saturday, BidAskClub reports.

Several other research firms have also recently issued reports on MBUU. B. Riley decreased their price target on Malibu Boats from $62.00 to $52.00 and set a buy rating for the company in a research note on Tuesday, August 27th. SunTrust Banks decreased their price target on Malibu Boats to $48.00 and set a buy rating for the company in a research note on Monday, June 17th. ValuEngine raised Malibu Boats from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Wells Fargo & Co set a $40.00 price target on Malibu Boats and gave the stock a buy rating in a research note on Thursday, August 29th. Finally, Raymond James cut Malibu Boats from a strong-buy rating to a market perform rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Malibu Boats currently has a consensus rating of Hold and a consensus target price of $47.83.

Shares of NASDAQ:MBUU traded up $0.14 on Friday, hitting $31.14. The company’s stock had a trading volume of 118,377 shares, compared to its average volume of 224,343. Malibu Boats has a 12 month low of $24.79 and a 12 month high of $50.89. The company has a market capitalization of $638.65 million, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.77 and a beta of 1.79. The stock’s 50-day moving average is $29.79 and its two-hundred day moving average is $35.06. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 1.69.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, August 29th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.15. Malibu Boats had a return on equity of 44.28% and a net margin of 9.66%. The company had revenue of $194.82 million during the quarter, compared to analysts’ expectations of $185.75 million. During the same quarter in the prior year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was up 40.5% compared to the same quarter last year. Equities analysts expect that Malibu Boats will post 3.82 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Malibu Boats by 7.3% during the second quarter. BlackRock Inc. now owns 1,712,838 shares of the company’s stock valued at $66,543,000 after buying an additional 116,219 shares in the last quarter. Vanguard Group Inc. boosted its stake in Malibu Boats by 1.8% during the second quarter. Vanguard Group Inc. now owns 1,066,089 shares of the company’s stock valued at $41,418,000 after buying an additional 19,150 shares in the last quarter. Royal Bank of Canada boosted its stake in Malibu Boats by 5.7% during the second quarter. Royal Bank of Canada now owns 659,075 shares of the company’s stock valued at $25,605,000 after buying an additional 35,643 shares in the last quarter. Neumeier Poma Investment Counsel LLC boosted its stake in Malibu Boats by 2.8% during the second quarter. Neumeier Poma Investment Counsel LLC now owns 651,390 shares of the company’s stock valued at $25,307,000 after buying an additional 17,600 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Malibu Boats by 1,065.1% during the second quarter. Nuveen Asset Management LLC now owns 455,758 shares of the company’s stock valued at $17,707,000 after buying an additional 416,639 shares in the last quarter.

Malibu Boats Company Profile

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.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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