Malibu Boats (NASDAQ:MBUU) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of Malibu Boats (NASDAQ:MBUU) from a strong-buy rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Truist Financial upped their price target on shares of Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Finally, DA Davidson reiterated a “neutral” rating and issued a $30.00 price objective on shares of Malibu Boats in a report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.60.

Malibu Boats Stock Performance

Shares of MBUU stock traded up $0.51 on Thursday, hitting $26.74. 229,256 shares of the stock were exchanged, compared to its average volume of 307,047. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $525.17 million, a PE ratio of -445.67 and a beta of 1.14. Malibu Boats has a one year low of $23.84 and a one year high of $39.65. The firm’s 50 day moving average is $27.02 and its two-hundred day moving average is $28.18.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The firm had revenue of $235.70 million during the quarter, compared to the consensus estimate of $203.46 million. During the same quarter last year, the company earned $0.72 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. Sell-side analysts expect that Malibu Boats will post 1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

A number of hedge funds have recently modified their holdings of MBUU. Parallel Advisors LLC purchased a new stake in shares of Malibu Boats during the first quarter worth about $194,403,000. Pzena Investment Management LLC raised its position in Malibu Boats by 2.5% during the 4th quarter. Pzena Investment Management LLC now owns 1,721,957 shares of the company’s stock valued at $48,576,000 after purchasing an additional 41,713 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Malibu Boats by 27.1% in the 4th quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock worth $47,621,000 after buying an additional 359,550 shares during the period. Cooke & Bieler LP lifted its holdings in Malibu Boats by 1.5% in the 4th quarter. Cooke & Bieler LP now owns 1,567,404 shares of the company’s stock worth $44,216,000 after buying an additional 23,313 shares during the period. Finally, Twin Lions Management LLC grew its position in shares of Malibu Boats by 8.2% in the 4th quarter. Twin Lions Management LLC now owns 1,138,053 shares of the company’s stock worth $32,104,000 after buying an additional 85,951 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

About Malibu Boats

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.