ValuEngine Lowers Malibu Boats (MBUU) to Sell

ValuEngine cut shares of Malibu Boats (NASDAQ:MBUU) from a hold rating to a sell rating in a report issued on Friday.

Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Malibu Boats from a hold rating to a buy rating and set a $56.00 price target for the company in a report on Saturday, November 10th. BidaskClub cut shares of Malibu Boats from a buy rating to a hold rating in a report on Tuesday, November 6th. B. Riley upgraded shares of Malibu Boats from a neutral rating to a buy rating and raised their price target for the stock from $46.50 to $60.00 in a report on Monday, September 17th. SunTrust Banks raised their price target on shares of Malibu Boats to $60.00 and gave the stock a buy rating in a report on Friday, September 7th. Finally, Raymond James raised their price target on shares of Malibu Boats from $48.00 to $61.00 and gave the stock a strong-buy rating in a report on Friday, September 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Malibu Boats currently has a consensus rating of Buy and a consensus target price of $56.57.

MBUU stock opened at $40.20 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.19 and a debt-to-equity ratio of 0.71. The company has a market cap of $837.17 million, a P/E ratio of 15.95, a P/E/G ratio of 0.81 and a beta of 1.49. Malibu Boats has a 52 week low of $27.85 and a 52 week high of $59.57.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.54 by $0.13. The business had revenue of $123.50 million during the quarter, compared to analysts’ expectations of $113.67 million. Malibu Boats had a net margin of 6.39% and a return on equity of 44.97%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. As a group, analysts anticipate that Malibu Boats will post 3.32 earnings per share for the current year.

In related news, COO Ritchie L. Anderson sold 10,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $52.58, for a total transaction of $565,235.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Wayne R. Wilson sold 14,088 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $52.34, for a total transaction of $737,365.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,340 shares of company stock worth $7,379,187. Insiders own 3.35% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP raised its position in Malibu Boats by 171.2% during the third quarter. Engineers Gate Manager LP now owns 40,446 shares of the company’s stock valued at $2,213,000 after acquiring an additional 25,535 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Malibu Boats during the second quarter valued at approximately $512,000. Affinity Investment Advisors LLC bought a new position in Malibu Boats during the second quarter valued at approximately $229,000. Macquarie Group Ltd. raised its position in Malibu Boats by 10.0% during the second quarter. Macquarie Group Ltd. now owns 1,280,397 shares of the company’s stock valued at $53,700,000 after acquiring an additional 115,989 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Malibu Boats by 31.1% during the second quarter. Renaissance Technologies LLC now owns 649,500 shares of the company’s stock valued at $27,240,000 after acquiring an additional 154,200 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats Company Profile

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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