Malibu Boats (NASDAQ:MBUU) Stock Rating Lowered by BidaskClub

Share on StockTwits

BidaskClub cut shares of Malibu Boats (NASDAQ:MBUU) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday, BidAskClub reports.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Malibu Boats from a hold rating to a buy rating and set a $55.00 price objective on the stock in a report on Tuesday, June 16th. SunTrust Banks increased their price objective on Malibu Boats from $45.00 to $62.00 and gave the stock a buy rating in a report on Thursday, June 11th. BMO Capital Markets increased their price target on Malibu Boats from $27.00 to $38.00 and gave the company a market perform rating in a report on Monday, May 11th. B. Riley increased their price target on Malibu Boats from $42.00 to $53.00 and gave the company a neutral rating in a report on Monday, June 8th. Finally, TheStreet upgraded Malibu Boats from a c+ rating to a b- rating in a report on Wednesday, May 20th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $50.25.

NASDAQ:MBUU opened at $50.40 on Friday. The stock’s 50 day moving average price is $48.44 and its 200 day moving average price is $39.91. Malibu Boats has a 52 week low of $18.02 and a 52 week high of $56.93. The company has a market capitalization of $1.03 billion, a P/E ratio of 14.08 and a beta of 2.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.83 and a current ratio of 2.83.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.15. Malibu Boats had a return on equity of 36.85% and a net margin of 10.25%. The firm had revenue of $182.31 million for the quarter, compared to the consensus estimate of $185.10 million. During the same quarter in the prior year, the company posted $1.15 earnings per share. The firm’s revenue was down 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that Malibu Boats will post 2.88 earnings per share for the current fiscal year.

In other news, Director Peter E. Murphy sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $50.67, for a total value of $152,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark W. Lanigan sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $45.89, for a total value of $1,147,250.00. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of MBUU. Private Capital Group LLC bought a new position in Malibu Boats in the first quarter worth $27,000. Great West Life Assurance Co. Can bought a new position in Malibu Boats in the fourth quarter worth $50,000. Verus Capital Partners LLC bought a new position in Malibu Boats in the fourth quarter worth $57,000. Acadian Asset Management LLC bought a new position in Malibu Boats in the fourth quarter worth $73,000. Finally, Advisor Group Holdings Inc. bought a new position in Malibu Boats in the first quarter worth $78,000.

About Malibu Boats

Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

See Also: Overbought

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.