Malibu Boats, Inc. (NASDAQ:MBUU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

Other equities research analysts have also issued research reports about the company. BidaskClub lowered Malibu Boats from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. ValuEngine raised Malibu Boats from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. B. Riley reaffirmed a “buy” rating and issued a $26.00 price target on shares of Malibu Boats in a research report on Saturday, May 13th. BMO Capital Markets reaffirmed a “hold” rating and issued a $22.00 price target on shares of Malibu Boats in a research report on Thursday, May 4th. Finally, Wunderlich lowered Malibu Boats from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Wednesday, May 3rd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Malibu Boats currently has a consensus rating of “Buy” and an average target price of $25.25.

Shares of Malibu Boats (MBUU) traded up 0.15% on Wednesday, reaching $26.60. 217,630 shares of the company’s stock traded hands. Malibu Boats has a 12-month low of $12.91 and a 12-month high of $29.50. The stock has a 50-day moving average of $27.39 and a 200 day moving average of $24.02. The firm has a market cap of $476.94 million, a P/E ratio of 21.28 and a beta of 0.98.

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Several large investors have recently modified their holdings of MBUU. Hood River Capital Management LLC acquired a new stake in shares of Malibu Boats during the second quarter valued at $10,572,000. Boston Advisors LLC acquired a new stake in shares of Malibu Boats during the second quarter valued at $5,361,000. AJO LP acquired a new stake in shares of Malibu Boats during the second quarter valued at $5,025,000. Driehaus Capital Management LLC raised its stake in shares of Malibu Boats by 1,334.3% in the first quarter. Driehaus Capital Management LLC now owns 187,604 shares of the company’s stock valued at $4,212,000 after buying an additional 174,524 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of Malibu Boats during the first quarter valued at $3,688,000.

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.

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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