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

Malibu Boats (NASDAQ:MBUU) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday. Wall Street Zen upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Griffin Securities set a $30.00 price objective on Malibu Boats in a research note on Tuesday, March 3rd. Finally, Truist Financial dropped their price objective on Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.20.

Malibu Boats Stock Performance

MBUU stock opened at $28.14 on Tuesday. The firm has a market cap of $552.59 million, a PE ratio of -469.00 and a beta of 1.13. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $26.03 and a 200-day moving average of $28.53. Malibu Boats has a 12-month low of $23.84 and a 12-month high of $39.65.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $235.70 million during the quarter, compared to analyst estimates of $203.46 million. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.Malibu Boats’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. As a group, sell-side analysts expect that Malibu Boats will post 1.08 earnings per share for the current year.

Hedge Funds Weigh In On Malibu Boats

Institutional investors have recently bought and sold shares of the company. Intesa Sanpaolo Wealth Management bought a new position in shares of Malibu Boats in the fourth quarter worth $31,000. BNP Paribas Financial Markets boosted its holdings in shares of Malibu Boats by 43.3% in the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Malibu Boats by 346.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after acquiring an additional 1,801 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Malibu Boats by 108.5% in the fourth quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock worth $93,000 after acquiring an additional 1,718 shares during the period. Finally, Strs Ohio bought a new position in shares of Malibu Boats in the first quarter worth $123,000. 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.