Malibu Boats (NASDAQ:MBUU) Lowered to "Strong Sell" Rating by Zacks Research

Key Points

• Malibu Boats has been downgraded from a "hold" rating to a "strong sell" rating by Zacks Research, reflecting analysts' growing concerns about the company's prospects.
• Despite the downgrade, Malibu Boats has reported a 30.4% increase in quarterly revenue year-over-year, generating $207.04 million during the latest quarter.
• Institutional investors hold a significant majority, with 91.35% of Malibu Boats stock owned by these entities, indicating strong institutional confidence in the company.

Malibu Boats (NASDAQ:MBUU - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Thursday, September 4th,Zacks.com reports.

Separately, DA Davidson assumed coverage on shares of Malibu Boats in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $33.00 target price on the stock. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $36.00.

Malibu Boats Stock Performance

NASDAQ MBUU traded up $1.61 during trading hours on Thursday, reaching $33.71. The company's stock had a trading volume of 69,242 shares, compared to its average volume of 179,564. The company has a current ratio of 1.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $34.55 and a 200 day simple moving average of $31.88. Malibu Boats has a 52 week low of $24.42 and a 52 week high of $47.82. The stock has a market cap of $648.82 million, a PE ratio of 43.66 and a beta of 1.20.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its earnings results on Thursday, August 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Malibu Boats had a return on equity of 4.93% and a net margin of 1.84%.The business had revenue of $207.04 million during the quarter, compared to the consensus estimate of $195.28 million. During the same period in the prior year, the business earned ($0.39) EPS. The business's revenue was up 30.4% on a year-over-year basis. Equities research analysts predict that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

A number of hedge funds have recently made changes to their positions in the business. Creative Planning increased its stake in shares of Malibu Boats by 5.0% during the second quarter. Creative Planning now owns 9,471 shares of the company's stock valued at $297,000 after acquiring an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Malibu Boats by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company's stock valued at $356,000 after acquiring an additional 491 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Malibu Boats by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 22,111 shares of the company's stock valued at $693,000 after acquiring an additional 506 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Malibu Boats by 43.3% during the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company's stock valued at $67,000 after acquiring an additional 643 shares during the period. Finally, Vident Advisory LLC increased its stake in shares of Malibu Boats by 5.0% during the second quarter. Vident Advisory LLC now owns 14,326 shares of the company's stock valued at $449,000 after acquiring an additional 677 shares during the period. Institutional investors own 91.35% of the company's stock.

Malibu Boats Company Profile

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.