Malibu Boats (NASDAQ:MBUU) Upgraded at Wall Street Zen

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

MBUU has been the topic of several other reports. Raymond James Financial restated a “market perform” rating on shares of Malibu Boats in a research note on Monday, August 31st. Weiss Ratings upgraded shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, August 27th. Benchmark reiterated a “buy” rating on shares of Malibu Boats in a report on Friday, August 28th. Truist Financial dropped their price target on shares of Malibu Boats from $34.00 to $26.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Zacks Research lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Malibu Boats has a consensus rating of “Hold” and an average price target of $30.00.

Malibu Boats Price Performance

MBUU stock opened at $21.87 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The firm has a market cap of $430.40 million, a price-to-earnings ratio of 17.48 and a beta of 1.19. The company’s fifty day simple moving average is $24.64 and its 200 day simple moving average is $27.26. Malibu Boats has a 12-month low of $21.16 and a 12-month high of $34.97.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.14. The firm had revenue of $295.54 million for the quarter, compared to analyst estimates of $263.89 million. Malibu Boats had a net margin of 0.18% and a return on equity of 4.78%. The business’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, analysts expect that Malibu Boats will post 2.18 earnings per share for the current year.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC purchased a new stake in Malibu Boats in the 1st quarter worth approximately $194,403,000. Bank of America Corp DE grew its position in shares of Malibu Boats by 44.6% during the 1st quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock valued at $8,892,000 after purchasing an additional 105,734 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Malibu Boats during the 1st quarter valued at $2,321,000. Bank of New York Mellon Corp purchased a new position in shares of Malibu Boats during the 2nd quarter valued at $2,384,000. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Malibu Boats by 10.6% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 865,239 shares of the company’s stock worth $19,831,000 after purchasing an additional 82,777 shares during the period. 91.35% of the stock is currently owned by institutional investors.

Malibu Boats Company Profile

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.