Malibu Boats (NASDAQ:MBUU) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released 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. “

A number of other analysts also recently weighed in on the stock. KeyCorp reaffirmed a “buy” rating and set a $31.00 price target on shares of Malibu Boats in a report on Friday, October 20th. BMO Capital Markets reaffirmed a “buy” rating and set a $32.00 price target on shares of Malibu Boats in a report on Friday, October 13th. SunTrust Banks reaffirmed a “buy” rating and set a $34.00 price target on shares of Malibu Boats in a report on Friday, November 10th. BidaskClub downgraded shares of Malibu Boats from a “buy” rating to a “hold” rating in a report on Thursday, December 14th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $36.00 price target (up previously from $30.00) on shares of Malibu Boats in a report on Wednesday, November 8th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Malibu Boats has an average rating of “Buy” and a consensus price target of $32.31.

Shares of Malibu Boats (MBUU) opened at $28.40 on Wednesday. Malibu Boats has a twelve month low of $17.17 and a twelve month high of $33.35. The company has a current ratio of 1.46, a quick ratio of 0.71 and a debt-to-equity ratio of 0.94. The firm has a market cap of $578.63, a P/E ratio of 17.01, a PEG ratio of 0.99 and a beta of 1.00.

In related news, CEO Jackie D. Jr. Springer sold 40,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $27.76, for a total value of $1,110,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Ritchie L. Anderson sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $31.15, for a total transaction of $467,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 131,497 shares of company stock valued at $3,964,297. 3.50% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the stock. Rhumbline Advisers raised its stake in shares of Malibu Boats by 0.8% during the second quarter. Rhumbline Advisers now owns 19,767 shares of the company’s stock valued at $511,000 after acquiring an additional 160 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Malibu Boats by 14.9% during the second quarter. Voya Investment Management LLC now owns 10,529 shares of the company’s stock valued at $272,000 after acquiring an additional 1,366 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Malibu Boats by 3.2% during the third quarter. Russell Investments Group Ltd. now owns 55,860 shares of the company’s stock valued at $1,767,000 after acquiring an additional 1,735 shares during the last quarter. Mckinley Capital Management LLC Delaware raised its stake in shares of Malibu Boats by 1.6% during the third quarter. Mckinley Capital Management LLC Delaware now owns 194,937 shares of the company’s stock valued at $6,168,000 after acquiring an additional 2,978 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Malibu Boats during the second quarter valued at $116,000.

TRADEMARK VIOLATION WARNING: “Zacks Investment Research Lowers Malibu Boats (MBUU) to Hold” was originally reported by Watch List News and is the property of of Watch List News. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.watchlistnews.com/zacks-investment-research-lowers-malibu-boats-mbuu-to-hold/1800690.html.

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.

Get a free copy of the Zacks research report on Malibu Boats (MBUU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

Receive News & Ratings for Malibu Boats Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Malibu Boats and related companies with MarketBeat.com's FREE daily email newsletter.