Malibu Boats (NASDAQ:MBUU) Lowered to “Market Perform” at Raymond James

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

MBUU has been the topic of a number of other reports. Truist Financial cut their price objective 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. StockNews.com raised Malibu Boats from a sell rating to a hold rating in a research note on Monday, February 26th. KeyCorp cut their price objective 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. B. Riley cut their price objective on Malibu Boats from $56.00 to $45.00 and set a neutral rating on the stock in a research note on Wednesday, January 31st. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $54.00 target price on shares of Malibu Boats in a report on Friday, January 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $50.00.

Malibu Boats Stock Down 6.1 %

MBUU opened at $36.14 on Monday. Malibu Boats has a fifty-two week low of $35.06 and a fifty-two week high of $62.36. The business has a 50-day moving average of $42.83 and a 200-day moving average of $46.64. 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 company has a market capitalization of $738.34 million, a PE ratio of 11.58 and a beta of 1.37.

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

Insider Buying and Selling at Malibu Boats

In other news, insider Michael K. Hooks acquired 12,500 shares of the firm’s stock in a transaction dated 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 owns 12,500 shares of the company’s stock, valued at $535,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.62% of the company’s stock.

Institutional Trading of Malibu Boats

Several institutional investors have recently modified their holdings of MBUU. Quarry LP acquired a new stake in shares of Malibu Boats during the 2nd quarter worth approximately $25,000. IFP Advisors Inc acquired a new stake in shares of Malibu Boats during the 3rd quarter worth approximately $25,000. Public Employees Retirement System of Ohio lifted its position in shares of Malibu Boats by 44.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock worth $27,000 after buying an additional 173 shares during the period. Comerica Bank bought a new position in shares of Malibu Boats during the 3rd quarter worth approximately $27,000. Finally, Ensign Peak Advisors Inc bought a new position in shares of Malibu Boats during the 3rd quarter worth approximately $29,000. 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.