Malibu Boats, Inc. (MBUU) Downgraded by ValuEngine
Malibu Boats, Inc. (NASDAQ:MBUU) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.
Other research analysts also recently issued reports about the company. BidaskClub downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a research note on Saturday, August 12th. Aegis assumed coverage on shares of Malibu Boats in a research note on Monday. They set a “buy” rating and a $37.00 target price on the stock. B. Riley downgraded shares of Malibu Boats from a “buy” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $25.25 in a report on Monday, August 28th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $29.00 price target on shares of Malibu Boats in a report on Wednesday, July 5th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $30.07.
Malibu Boats (NASDAQ MBUU) traded up 2.75% on Monday, hitting $32.51. 328,518 shares of the stock traded hands. The company’s 50 day moving average price is $27.77 and its 200-day moving average price is $25.34. Malibu Boats has a 52-week low of $14.12 and a 52-week high of $32.70. The stock has a market cap of $659.53 million, a price-to-earnings ratio of 20.58 and a beta of 1.03.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, September 7th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Malibu Boats had a return on equity of 78.71% and a net margin of 10.06%. The business had revenue of $75.11 million during the quarter, compared to analysts’ expectations of $73.35 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 12.6% on a year-over-year basis. On average, analysts forecast that Malibu Boats will post $1.89 earnings per share for the current fiscal year.
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In other Malibu Boats news, Director Peter E. Murphy bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $25.50 per share, with a total value of $76,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Malibu Boats in the 2nd quarter worth approximately $116,000. Susquehanna International Group LLP bought a new position in Malibu Boats in the 2nd quarter worth approximately $200,000. Stevens Capital Management LP purchased a new stake in Malibu Boats during the 2nd quarter valued at approximately $201,000. Laurion Capital Management LP purchased a new stake in Malibu Boats during the 2nd quarter valued at approximately $211,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Malibu Boats during the 2nd quarter valued at approximately $211,000. 90.19% of the stock is currently owned by institutional investors.
Malibu Boats Company Profile
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.
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