Zacks Investment Research downgraded shares of Malibu Boats (NASDAQ:MBUU) from a hold rating to a sell rating in a research note published on Thursday morning, Zacks.com reports.

According to Zacks, “Malibu Boats, Inc. operates as a designer, manufacturer and marketer of sport boats primarily in the United States. The Company sells its boats under two brands: Malibu and Axis Wake Research. Its sport boats used for water sports including water skiing, wakeboarding and wake surfing as well as for general recreational boating use. Malibu Boats, Inc. is based in Loudon, United States. “

Other equities analysts have also issued research reports about the stock. SunTrust Banks cut their price objective on shares of Malibu Boats to $48.00 and set a buy rating for the company in a research report on Monday, June 17th. B. Riley set a $62.00 price objective on shares of Malibu Boats and gave the company a buy rating in a research report on Friday, July 19th. KeyCorp cut their price objective on shares of Malibu Boats from $53.00 to $48.00 and set an overweight rating for the company in a research report on Monday, July 22nd. ValuEngine lowered shares of Malibu Boats from a sell rating to a strong sell rating in a research report on Monday, July 22nd. Finally, Raymond James lowered shares of Malibu Boats from a strong-buy rating to a market perform rating in a research report on Monday, July 22nd. Three analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Malibu Boats has an average rating of Hold and a consensus price target of $53.29.

NASDAQ:MBUU opened at $26.10 on Thursday. The firm has a 50 day simple moving average of $31.37 and a 200-day simple moving average of $38.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.61 and a quick ratio of 0.72. The firm has a market cap of $581.13 million, a PE ratio of 8.35, a P/E/G ratio of 0.72 and a beta of 1.80. Malibu Boats has a 1-year low of $24.79 and a 1-year high of $59.57.

A number of hedge funds have recently modified their holdings of the stock. Boston Advisors LLC increased its position in Malibu Boats by 0.6% during the first quarter. Boston Advisors LLC now owns 48,646 shares of the company’s stock worth $1,925,000 after purchasing an additional 305 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Malibu Boats by 4.2% during the second 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 grew its stake in Malibu Boats by 1.1% during the second quarter. Parametric Portfolio Associates LLC now owns 39,023 shares of the company’s stock worth $1,516,000 after buying an additional 418 shares during the period. Advisor Group Inc. grew its stake in Malibu Boats by 111.1% during the second quarter. Advisor Group Inc. now owns 859 shares of the company’s stock worth $33,000 after buying an additional 452 shares during the period. Finally, Alps Advisors Inc. grew its stake in Malibu Boats by 6.5% during the first quarter. Alps Advisors Inc. now owns 9,065 shares of the company’s stock worth $359,000 after buying an additional 551 shares during the period.

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.

Read More: What is a Buy-Side Analyst?

Get a free copy of the Zacks research report on Malibu Boats (MBUU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

Receive News & Ratings for Malibu Boats Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Malibu Boats and related companies with MarketBeat.com's FREE daily email newsletter.