Malibu Boats (NASDAQ:MBUU) Rating Increased to Sell at BidaskClub

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BidaskClub upgraded shares of Malibu Boats (NASDAQ:MBUU) from a strong sell rating to a sell rating in a research note published on Thursday, BidAskClub reports.

Several other research firms also recently issued reports on MBUU. ValuEngine downgraded Malibu Boats from a sell rating to a strong sell rating in a research report on Monday, July 22nd. Zacks Investment Research downgraded Malibu Boats from a hold rating to a sell rating in a research report on Thursday, August 29th. SunTrust Banks dropped their target price on Malibu Boats to $48.00 and set a buy rating on the stock in a research report on Monday, June 17th. B. Riley dropped their target price on Malibu Boats from $62.00 to $52.00 and set a buy rating on the stock in a research report on Tuesday, August 27th. Finally, Raymond James downgraded Malibu Boats from a strong-buy rating to a market perform rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $47.83.

Shares of NASDAQ:MBUU traded up $0.70 during trading on Thursday, hitting $31.05. 310,879 shares of the company were exchanged, compared to its average volume of 223,170. The company has a market cap of $634.98 million, a PE ratio of 8.46, a P/E/G ratio of 0.80 and a beta of 1.81. The stock has a 50 day moving average of $27.99 and a 200 day moving average of $37.08. Malibu Boats has a 52-week low of $24.79 and a 52-week high of $57.90. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.69 and a quick ratio of 0.79.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, August 29th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.15. The firm had revenue of $194.82 million for the quarter, compared to the consensus estimate of $185.75 million. Malibu Boats had a return on equity of 44.28% and a net margin of 9.66%. The business’s quarterly revenue was up 40.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 earnings per share. Sell-side analysts forecast that Malibu Boats will post 3.82 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Malibu Boats by 7.3% in the second quarter. BlackRock Inc. now owns 1,712,838 shares of the company’s stock worth $66,543,000 after buying an additional 116,219 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Malibu Boats by 1.8% in the second quarter. Vanguard Group Inc. now owns 1,066,089 shares of the company’s stock worth $41,418,000 after buying an additional 19,150 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Malibu Boats by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 820,097 shares of the company’s stock worth $28,540,000 after buying an additional 18,378 shares in the last quarter. Royal Bank of Canada raised its position in shares of Malibu Boats by 5.7% in the second quarter. Royal Bank of Canada now owns 659,075 shares of the company’s stock worth $25,605,000 after buying an additional 35,643 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC raised its position in shares of Malibu Boats by 2.8% in the second quarter. Neumeier Poma Investment Counsel LLC now owns 651,390 shares of the company’s stock worth $25,307,000 after buying an additional 17,600 shares in the last quarter. Institutional investors own 99.69% of the company’s stock.

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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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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