Malibu Boats’ (MBUU) Neutral Rating Reaffirmed at B. Riley Financial

B. Riley Financial reaffirmed their neutral rating on shares of Malibu Boats (NASDAQ:MBUU) in a research report report published on Friday,Benzinga reports. They currently have a $22.00 target price on the stock, down from their previous target price of $30.00.

MBUU has been the subject of a number of other research reports. Wall Street Zen downgraded shares of Malibu Boats from a “buy” rating to a “hold” rating in a report on Sunday, November 1st. Raymond James Financial reissued a “market perform” rating on shares of Malibu Boats in a report on Monday, August 31st. Weiss Ratings raised shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, August 27th. Benchmark reiterated a “buy” rating on shares of Malibu Boats in a research report on Friday, August 28th. Finally, Zacks Research lowered Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.40.

Malibu Boats Stock Performance

Shares of Malibu Boats stock traded down $0.42 during trading on Friday, reaching $20.22. The company’s stock had a trading volume of 746,528 shares, compared to its average volume of 241,555. Malibu Boats has a fifty-two week low of $19.46 and a fifty-two week high of $34.97. The firm has a market cap of $397.93 million, a PE ratio of 49.32 and a beta of 1.20. The company has a 50-day moving average price of $23.55 and a two-hundred day moving average price of $26.82. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.31.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). Malibu Boats had a net margin of 0.18% and a return on equity of 4.78%. The business had revenue of $252.94 million during the quarter, compared to analysts’ expectations of $257.64 million. During the same quarter last year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. On average, analysts forecast that Malibu Boats will post 2.18 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Malibu Boats during the second quarter worth about $35,000. Central Pacific Bank Trust Division lifted its stake in shares of Malibu Boats by 13.5% during the 2nd quarter. Central Pacific Bank Trust Division now owns 5,304 shares of the company’s stock worth $145,000 after purchasing an additional 630 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Malibu Boats during the second quarter worth $206,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Malibu Boats during the second quarter worth $222,000. Finally, AXQ Capital LP purchased a new stake in shares of Malibu Boats in the second quarter valued at $272,000. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

Malibu Boats News Roundup

Here are the key news stories impacting Malibu Boats this week:

• Positive Sentiment: Quarterly revenue rose 28.1% year over year to $252.94 million, providing a growth offset to the weaker results. Malibu Boats quarterly results
• Negative Sentiment: Malibu reported quarterly EPS of $0.15, below the $0.21 consensus, while revenue of $252.94 million also missed estimates of $257.64 million. The earnings shortfall and sales miss weighed on investor sentiment. Malibu Boats earnings and revenue miss
• Negative Sentiment: Coverage of the results highlighted deteriorating retail activity and weaker guidance, raising concerns about demand and the company’s outlook. Sales miss and guidance concerns
• Negative Sentiment: B. Riley reaffirmed its “neutral” rating but cut its price target to $22 from $30, signaling a more cautious valuation view. B. Riley rating and target

About Malibu Boats

Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. The company designs, manufactures and sells boats for watersports, boating and fishing activities, serving consumers through a network of independent dealers in the United States and international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, as well as a range of saltwater and freshwater fishing and offshore boats sold under brands including Pursuit, Maverick, Cobia, Pathfinder and Hewes.