Raymond James Lowers Malibu Boats (NASDAQ:MBUU) to Market Perform

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

A number of other equities analysts have also weighed in on the company. StockNews.com upgraded Malibu Boats from a sell rating to a hold rating in a research note on Monday, February 26th. Robert W. Baird restated an outperform rating and set a $54.00 target price on shares of Malibu Boats in a research report on Friday, January 19th. B. Riley dropped their target price on Malibu Boats from $56.00 to $45.00 and set a neutral rating on the stock in a research report on Wednesday, January 31st. KeyCorp dropped their target price on Malibu Boats from $58.00 to $50.00 and set an overweight rating on the stock in a research report on Wednesday, January 31st. Finally, Truist Financial 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 Wednesday, January 31st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $49.00.

Malibu Boats Stock Performance

NASDAQ MBUU opened at $34.16 on Monday. The stock has a 50-day simple moving average of $42.41 and a two-hundred day simple moving average of $46.45. The firm has a market capitalization of $697.89 million, a P/E ratio of 10.95 and a beta of 1.37. Malibu Boats has a fifty-two week low of $33.78 and a fifty-two week high of $62.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $211.07 million during 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%. The company’s revenue was down 37.7% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. On average, equities analysts forecast that Malibu Boats will post 2.55 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael K. Hooks acquired 12,500 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the acquisition, the insider now owns 12,500 shares in the company, valued at approximately $535,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Malibu Boats

Several institutional investors have recently bought and sold shares of MBUU. Price T Rowe Associates Inc. MD lifted its stake in Malibu Boats by 1.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 12,934 shares of the company’s stock worth $682,000 after purchasing an additional 170 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Malibu Boats by 44.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock worth $27,000 after purchasing an additional 173 shares in the last quarter. Stifel Financial Corp lifted its stake in Malibu Boats by 2.4% in the 1st quarter. Stifel Financial Corp now owns 9,988 shares of the company’s stock worth $564,000 after purchasing an additional 237 shares in the last quarter. Bank of Montreal Can lifted its stake in Malibu Boats by 8.6% in the 1st quarter. Bank of Montreal Can now owns 3,766 shares of the company’s stock worth $239,000 after purchasing an additional 298 shares in the last quarter. Finally, Hohimer Wealth Management LLC lifted its stake in Malibu Boats by 3.0% in the 4th quarter. Hohimer Wealth Management LLC now owns 10,438 shares of the company’s stock worth $572,000 after purchasing an additional 301 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.