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

Raymond James lowered shares of Malibu Boats (NASDAQ:MBUU) from an outperform rating to a market perform rating in a research report sent to investors on Monday, Marketbeat reports.

Several other research analysts have also recently issued reports on MBUU. KeyCorp cut 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. StockNews.com raised Malibu Boats from a sell rating to a hold rating in a research report on Monday, February 26th. Truist Financial cut their price objective 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. B. Riley cut their price objective 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. Finally, Robert W. Baird reissued an outperform rating and issued a $54.00 price objective on shares of Malibu Boats in a research report on Friday, January 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $49.00.

Malibu Boats Trading Up 0.6 %

NASDAQ MBUU opened at $34.16 on Monday. The company has a market cap of $697.89 million, a price-to-earnings ratio of 10.95 and a beta of 1.37. Malibu Boats has a 52 week low of $33.78 and a 52 week high of $62.36. The business has a 50 day moving average price of $42.41 and a 200-day moving average price of $46.45. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The firm had revenue of $211.07 million during the quarter, compared to the consensus estimate of $219.64 million. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The company’s quarterly revenue was down 37.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.78 earnings per share. As a group, equities analysts expect that Malibu Boats will post 2.55 earnings per share for the current fiscal year.

Insider Activity at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks bought 12,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were acquired at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the purchase, the insider now directly owns 12,500 shares of the company’s stock, valued at $535,250. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in Malibu Boats in the 2nd quarter worth approximately $25,000. IFP Advisors Inc purchased a new stake in Malibu Boats in the 3rd quarter worth approximately $25,000. Comerica Bank purchased a new stake in Malibu Boats in the 3rd quarter worth approximately $27,000. Public Employees Retirement System of Ohio lifted its holdings 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 buying an additional 173 shares during the period. Finally, Point72 Middle East FZE purchased a new stake in Malibu Boats in the 4th quarter worth approximately $31,000. 91.35% of the stock is currently owned by institutional investors.

About Malibu Boats

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.