Zacks Research Downgrades Malibu Boats (NASDAQ:MBUU) to Hold

Malibu Boats (NASDAQ:MBUU) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. DA Davidson reaffirmed a “neutral” rating and set a $30.00 price target on shares of Malibu Boats in a research note on Monday, June 15th. Weiss Ratings lowered Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Finally, Truist Financial boosted their price target on Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.60.

Malibu Boats Price Performance

NASDAQ MBUU opened at $26.74 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 0.44. The firm has a market capitalization of $525.17 million, a price-to-earnings ratio of -445.67 and a beta of 1.14. The company has a 50 day simple moving average of $27.02 and a 200-day simple moving average of $28.18. Malibu Boats has a 52-week low of $23.84 and a 52-week high of $39.65.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $235.70 million during the quarter, compared to the consensus estimate of $203.46 million. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. Equities research analysts predict that Malibu Boats will post 1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in shares of Malibu Boats by 0.8% in the fourth quarter. Invesco Ltd. now owns 53,074 shares of the company’s stock valued at $1,497,000 after purchasing an additional 432 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Malibu Boats by 4.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,936 shares of the company’s stock worth $355,000 after buying an additional 441 shares during the period. Creative Planning boosted its holdings in shares of Malibu Boats by 5.0% during the 2nd quarter. Creative Planning now owns 9,471 shares of the company’s stock worth $297,000 after buying an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Malibu Boats by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock worth $356,000 after buying an additional 491 shares during the period. Finally, Central Pacific Bank Trust Division grew its stake in Malibu Boats by 13.5% in the 2nd quarter. Central Pacific Bank Trust Division now owns 5,304 shares of the company’s stock valued at $145,000 after buying an additional 630 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

About Malibu Boats

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.