Malibu Boats (NASDAQ:MBUU) Stock Rating Lowered by Raymond James

Raymond James cut shares of Malibu Boats (NASDAQ:MBUU) from an outperform rating to a market perform rating in a report published on Monday, Marketbeat Ratings reports.

MBUU has been the topic of a number of other research reports. B. Riley reduced their target price on Malibu Boats from $56.00 to $45.00 and set a neutral rating on the stock in a report on Wednesday, January 31st. StockNews.com upgraded Malibu Boats from a sell rating to a hold rating in a research note on Monday, February 26th. Truist Financial decreased their price target on Malibu Boats from $62.00 to $52.00 and set a buy rating on the stock in a research note on Wednesday, January 31st. Robert W. Baird reiterated an outperform rating and issued a $54.00 price target on shares of Malibu Boats in a research note on Friday, January 19th. Finally, KeyCorp decreased their price target on Malibu Boats from $58.00 to $50.00 and set an overweight rating on the stock in a research note on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Malibu Boats presently has an average rating of Hold and a consensus target price of $50.00.

Malibu Boats Trading Down 6.1 %

Shares of NASDAQ:MBUU opened at $36.14 on Monday. The company has a market capitalization of $738.34 million, a P/E ratio of 11.58 and a beta of 1.37. Malibu Boats has a 1 year low of $35.06 and a 1 year high of $62.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.82 and a quick ratio of 0.69. The business’s 50 day simple moving average is $42.83 and its 200 day simple moving average is $46.64.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $211.07 million for the quarter, compared to the consensus estimate of $219.64 million. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The firm’s quarterly revenue was down 37.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 earnings per share. On average, research analysts anticipate that Malibu Boats will post 2.57 EPS for the current fiscal year.

Insider Activity at Malibu Boats

In other news, insider Michael K. Hooks acquired 12,500 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average price of $42.82 per share, with a total value of $535,250.00. Following the acquisition, the insider now directly owns 12,500 shares in the company, valued at approximately $535,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds have recently modified their holdings of MBUU. Cooke & Bieler LP boosted its holdings in shares of Malibu Boats by 35.2% during the 4th quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock valued at $50,476,000 after acquiring an additional 239,707 shares in the last quarter. Millennium Management LLC acquired a new position in Malibu Boats during the 2nd quarter worth about $9,260,000. Invesco Ltd. lifted its holdings in Malibu Boats by 272.7% during the 3rd quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock worth $6,231,000 after buying an additional 93,004 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in Malibu Boats by 29.3% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 318,826 shares of the company’s stock worth $15,629,000 after buying an additional 72,330 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Malibu Boats by 57.8% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 196,943 shares of the company’s stock worth $9,654,000 after buying an additional 72,120 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

About Malibu Boats

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.