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

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

MBUU has been the subject of several other research reports. StockNews.com raised Malibu Boats from a sell rating to a hold rating in a report on Monday, February 26th. KeyCorp decreased their price target on Malibu Boats from $58.00 to $50.00 and set an overweight rating for the company in a report on Wednesday, January 31st. Robert W. Baird reaffirmed an outperform rating and set a $54.00 price objective on shares of Malibu Boats in a research note on Friday, January 19th. B. Riley decreased their target price on shares of Malibu Boats from $56.00 to $45.00 and set a neutral rating for the company in a research note on Wednesday, January 31st. Finally, Truist Financial dropped their price target on shares of Malibu Boats from $62.00 to $52.00 and set a buy rating on the stock in a research report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Malibu Boats presently has a consensus rating of Hold and a consensus target price of $49.00.

Malibu Boats Stock Down 2.7 %

NASDAQ:MBUU opened at $33.96 on Monday. The company has a market cap of $693.80 million, a PE ratio of 10.88 and a beta of 1.37. The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. Malibu Boats has a twelve month low of $33.89 and a twelve month high of $62.36. The company’s 50 day moving average is $42.41 and its two-hundred day moving average is $46.45.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $211.07 million for the quarter, compared to analyst estimates of $219.64 million. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. Malibu Boats’s revenue for the quarter was down 37.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 earnings per share. Analysts anticipate that Malibu Boats will post 2.55 EPS for the current year.

Insider Activity

In related news, insider Michael K. Hooks purchased 12,500 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 in the company, valued at $535,250. The purchase was disclosed in a legal filing 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

Institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new position in Malibu Boats in the 2nd quarter valued at about $25,000. IFP Advisors Inc acquired a new position in shares of Malibu Boats during the third quarter valued at approximately $25,000. Comerica Bank purchased a new position in shares of Malibu Boats in the third quarter valued at approximately $27,000. Public Employees Retirement System of Ohio boosted its stake in shares of Malibu Boats by 44.7% in the third quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock worth $27,000 after acquiring an additional 173 shares during the last quarter. Finally, Point72 Middle East FZE acquired a new stake in shares of Malibu Boats in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Company Profile

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.