Malibu Boats (NASDAQ:MBUU) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Malibu Boats (NASDAQ:MBUU) from a buy rating to a hold rating in a research note published on Sunday,Wall Street Zen reports.

Several other equities analysts have also weighed in on MBUU. Raymond James Financial reaffirmed a “market perform” rating on shares of Malibu Boats in a research report on Monday, August 31st. Benchmark reissued a “buy” rating on shares of Malibu Boats in a research report on Friday, August 28th. Zacks Research cut shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Weiss Ratings raised shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, August 27th. Finally, Truist Financial reduced their price objective on shares of Malibu Boats from $34.00 to $26.00 and set a “hold” rating for the company in a report on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.00.

Malibu Boats Price Performance

Shares of NASDAQ MBUU opened at $23.81 on Friday. Malibu Boats has a 1 year low of $21.16 and a 1 year high of $34.97. The firm’s 50 day moving average price is $24.12 and its 200 day moving average price is $27.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.60 and a current ratio of 1.43. The firm has a market cap of $468.53 million, a P/E ratio of 340.14 and a beta of 1.19.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.14. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%. The firm had revenue of $295.54 million during the quarter, compared to analysts’ expectations of $263.89 million. During the same quarter in the prior year, the business earned $0.42 EPS. Malibu Boats’s quarterly revenue was up 42.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Malibu Boats will post 2.18 earnings per share for the current year.

Hedge Funds Weigh In On Malibu Boats

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC bought a new position in Malibu Boats during the 1st quarter valued at about $194,403,000. Dimensional Fund Advisors LP boosted its position in Malibu Boats by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 967,068 shares of the company’s stock valued at $25,067,000 after acquiring an additional 52,635 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Malibu Boats by 10.6% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 865,239 shares of the company’s stock valued at $19,831,000 after buying an additional 82,777 shares during the last quarter. Bank of America Corp DE increased its position in shares of Malibu Boats by 44.6% during the first quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock worth $8,892,000 after purchasing an additional 105,734 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Malibu Boats during the second quarter valued at about $2,384,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

About Malibu Boats

Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. The company designs, manufactures and sells boats for watersports, boating and fishing activities, serving consumers through a network of independent dealers in the United States and international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, as well as a range of saltwater and freshwater fishing and offshore boats sold under brands including Pursuit, Maverick, Cobia, Pathfinder and Hewes.