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

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

MBUU has been the topic of several other research reports. Truist Financial dropped their target price on shares of Malibu Boats from $62.00 to $52.00 and set a buy rating on the stock in a report on Wednesday, January 31st. B. Riley dropped their price target on Malibu Boats from $56.00 to $45.00 and set a neutral rating on the stock in a research note on Wednesday, January 31st. StockNews.com upgraded Malibu Boats from a sell rating to a hold rating in a research report on Monday, February 26th. Robert W. Baird reissued an outperform rating and issued a $54.00 target price on shares of Malibu Boats in a report on Friday, January 19th. Finally, KeyCorp cut their price target on Malibu Boats from $58.00 to $50.00 and set an overweight rating for the company in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $49.00.

Malibu Boats Trading Down 2.7 %

Shares of NASDAQ:MBUU opened at $33.96 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.82 and a quick ratio of 0.69. Malibu Boats has a 1 year low of $33.89 and a 1 year high of $62.36. The company has a market cap of $693.80 million, a P/E ratio of 10.88 and a beta of 1.37. The stock’s fifty day moving average price is $42.41 and its 200-day moving average price is $46.45.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $211.07 million during the quarter, compared to analyst estimates of $219.64 million. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. Malibu Boats’s revenue was down 37.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.78 EPS. Sell-side analysts expect that Malibu Boats will post 2.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Michael K. Hooks acquired 12,500 shares of the stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average cost of $42.82 per share, with a total value of $535,250.00. Following the transaction, the insider now directly owns 12,500 shares in the company, valued at $535,250. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.62% of the company’s stock.

Institutional Trading of Malibu Boats

Several institutional investors and hedge funds have recently modified their holdings of MBUU. IFP Advisors Inc purchased a new stake in Malibu Boats in the 3rd quarter worth $25,000. Quarry LP purchased a new stake in shares of Malibu Boats during the second quarter worth about $25,000. Public Employees Retirement System of Ohio raised its stake in Malibu Boats by 44.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock valued at $27,000 after purchasing an additional 173 shares during the period. Comerica Bank purchased a new position in Malibu Boats in the 3rd quarter worth approximately $27,000. Finally, Ensign Peak Advisors Inc bought a new position in Malibu Boats in the 3rd quarter worth approximately $29,000. 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.