Malibu Boats (NASDAQ:MBUU) Upgraded by BidaskClub to “Sell”

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

Other research analysts also recently issued reports about the company. KeyCorp dropped their price objective on Malibu Boats from $53.00 to $48.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. B. Riley dropped their price objective on Malibu Boats from $62.00 to $52.00 and set a buy rating on the stock in a research note on Tuesday, August 27th. SunTrust Banks dropped their price objective on Malibu Boats to $48.00 and set a buy rating on the stock in a research note on Monday, June 17th. Wells Fargo & Co set a $40.00 price objective on Malibu Boats and gave the company a buy rating in a research note on Thursday, August 29th. Finally, Zacks Investment Research downgraded Malibu Boats from a hold rating to a sell rating in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $47.83.

Shares of NASDAQ:MBUU traded up $0.70 during midday trading on Thursday, reaching $31.05. The company’s stock had a trading volume of 310,879 shares, compared to its average volume of 223,170. The firm has a market capitalization of $634.98 million, a price-to-earnings ratio of 8.46, a PEG ratio of 0.80 and a beta of 1.81. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 1.69. The firm has a 50 day moving average price of $27.99 and a two-hundred day moving average price of $37.08. Malibu Boats has a fifty-two week low of $24.79 and a fifty-two week high of $57.90.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.15. The company 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 firm’s revenue was up 40.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 EPS. As a group, research analysts anticipate that Malibu Boats will post 3.82 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its stake in Malibu Boats by 4.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,291 shares of the company’s stock worth $361,000 after buying an additional 373 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Malibu Boats by 1.1% in the second quarter. Parametric Portfolio Associates LLC now owns 39,023 shares of the company’s stock worth $1,516,000 after purchasing an additional 418 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Malibu Boats by 111.1% in the second quarter. Advisor Group Inc. now owns 859 shares of the company’s stock worth $33,000 after purchasing an additional 452 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of Malibu Boats by 6.5% in the first quarter. Alps Advisors Inc. now owns 9,065 shares of the company’s stock worth $359,000 after purchasing an additional 551 shares during the last quarter. Finally, Chicago Equity Partners LLC raised its stake in shares of Malibu Boats by 2.2% in the second quarter. Chicago Equity Partners LLC now owns 33,205 shares of the company’s stock worth $1,290,000 after purchasing an additional 720 shares during the last quarter. 99.69% of the stock is currently owned by institutional investors and hedge funds.

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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