Zacks Investment Research downgraded shares of Malibu Boats (NASDAQ:MBUU) from a buy rating to a hold rating in a research report report published on Wednesday, July 25th.
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. “
Other equities analysts have also issued research reports about the stock. BMO Capital Markets raised their price objective on shares of Malibu Boats from $40.00 to $48.00 and gave the company an outperform rating in a research report on Thursday, May 3rd. Wells Fargo & Co cut shares of Malibu Boats from an outperform rating to a market perform rating in a report on Thursday, May 3rd. SunTrust Banks raised their target price on shares of Malibu Boats to $48.00 and gave the stock a positive rating in a report on Thursday, May 3rd. ValuEngine cut shares of Malibu Boats from a buy rating to a hold rating in a report on Thursday, July 19th. Finally, BidaskClub lowered shares of Malibu Boats from a strong-buy rating to a buy rating in a research report on Friday, June 22nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Malibu Boats currently has an average rating of Hold and an average target price of $41.75.
Shares of NASDAQ:MBUU opened at $38.58 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 1.87. Malibu Boats has a 1-year low of $25.18 and a 1-year high of $46.49. The firm has a market cap of $793.30 million, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 0.93 and a beta of 1.01.
Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of Malibu Boats by 0.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 211,658 shares of the company’s stock worth $6,292,000 after acquiring an additional 1,822 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Malibu Boats by 15.0% in the fourth quarter. First Trust Advisors LP now owns 18,160 shares of the company’s stock worth $540,000 after acquiring an additional 2,371 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of Malibu Boats by 25.3% in the second quarter. Alps Advisors Inc. now owns 17,447 shares of the company’s stock worth $519,000 after acquiring an additional 3,519 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of Malibu Boats in the first quarter worth $130,000. Finally, Northern Trust Corp grew its stake in shares of Malibu Boats by 1.6% in the first quarter. Northern Trust Corp now owns 280,710 shares of the company’s stock worth $9,323,000 after acquiring an additional 4,353 shares during the last quarter.
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.
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