Malibu Boats (NASDAQ:MBUU) Stock Bumped Down to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Malibu Boats from “Buy” to “Hold,” contributing to an overall consensus “Hold” rating. Analysts’ consensus price target is $30, compared with the stock’s reported opening price of $23.81.
• Malibu Boats reported quarterly adjusted earnings of $0.92 per share, beating estimates of $0.78, while revenue rose 42.8% year over year to $295.54 million.
• The company is heavily institutionally owned, with institutional investors holding approximately 91.35% of outstanding shares; the stock has recently traded near its 52-week low and below its 200-day moving average.

Malibu Boats (NASDAQ:MBUU - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday, Wall Street Zen reports.

A number of other research firms have also recently weighed in on MBUU. Weiss Ratings upgraded Malibu Boats from a "sell (e+)" rating to a "sell (d)" rating in a report on Thursday, August 27th. Raymond James Financial reiterated a "market perform" rating on shares of Malibu Boats in a research report on Monday, August 31st. Truist Financial lowered their price objective on shares of Malibu Boats from $34.00 to $26.00 and set a "hold" rating on the stock in a research note on Friday, October 23rd. Benchmark restated a "buy" rating on shares of Malibu Boats in a report on Friday, August 28th. Finally, Zacks Research downgraded shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $30.00.

Malibu Boats Trading Up 1.3%

Shares of NASDAQ MBUU opened at $23.81 on Friday. Malibu Boats has a twelve month low of $21.16 and a twelve month high of $34.97. The company has a current ratio of 1.43, a quick ratio of 0.60 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $24.12 and a 200-day simple moving average of $27.07. The stock has a market capitalization of $468.58 million, a PE ratio of 340.14 and a beta of 1.19.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its earnings results on Thursday, August 27th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.14. The firm had revenue of $295.54 million for the quarter, compared to analysts' expectations of $263.89 million. Malibu Boats had a net margin of 0.18% and a return on equity of 4.78%. The firm's revenue was up 42.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. On average, equities analysts forecast that Malibu Boats will post 2.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MBUU. Parallel Advisors LLC acquired a new position in Malibu Boats during the 1st quarter valued at $194,403,000. Bank of America Corp DE grew its position in Malibu Boats by 44.6% in the 1st quarter. Bank of America Corp DE now owns 343,042 shares of the company's stock worth $8,892,000 after purchasing an additional 105,734 shares during the last quarter. Empowered Funds LLC acquired a new stake in Malibu Boats in the 1st quarter worth $2,321,000. Bank of New York Mellon Corp bought a new position in shares of Malibu Boats during the 2nd quarter worth about $2,384,000. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Malibu Boats by 10.6% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 865,239 shares of the company's stock worth $19,831,000 after purchasing an additional 82,777 shares during the period. 91.35% of the stock is currently owned by institutional investors.

Malibu Boats Company Profile

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.

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