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

Malibu Boats (NASDAQ:MBUU - Get Free Report) was downgraded by stock analysts at Raymond James from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Monday, Marketbeat.com reports.

Several other analysts have also weighed in on MBUU. StockNews.com upgraded shares of Malibu Boats from a "sell" rating to a "hold" rating in a research note on Monday, February 26th. Truist Financial lowered their price objective on shares of Malibu Boats from $62.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, January 31st. B. Riley lowered their price objective on shares of Malibu Boats from $56.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, January 31st. KeyCorp decreased their price target on shares of Malibu Boats from $58.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, January 31st. Finally, Robert W. Baird restated an "outperform" rating and set a $54.00 price target on shares of Malibu Boats in a research note on Friday, January 19th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $50.00.

Malibu Boats Trading Down 6.1 %

Shares of NASDAQ MBUU traded down $2.34 during midday trading on Monday, reaching $36.14. The stock had a trading volume of 930,462 shares, compared to its average volume of 251,693. The firm has a market cap of $738.34 million, a price-to-earnings ratio of 11.58 and a beta of 1.37. Malibu Boats has a twelve month low of $35.06 and a twelve month high of $62.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82. The company's 50 day moving average price is $42.83 and its 200 day moving average price is $46.64.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.10. The firm had revenue of $211.07 million for the quarter, compared to the consensus estimate of $219.64 million. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The company's revenue for the quarter was down 37.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.78 EPS. As a group, sell-side analysts expect that Malibu Boats will post 2.57 EPS for the current year.

Insider Transactions at Malibu Boats

In other news, insider Michael K. Hooks bought 12,500 shares of Malibu Boats stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the purchase, the insider now directly owns 12,500 shares in the company, valued at approximately $535,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.62% of the company's stock.

Institutional Trading of Malibu Boats

A number of large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Malibu Boats by 1.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 12,934 shares of the company's stock valued at $682,000 after acquiring an additional 170 shares during the period. Public Employees Retirement System of Ohio boosted 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. Stifel Financial Corp boosted its holdings in Malibu Boats by 2.4% in the 1st quarter. Stifel Financial Corp now owns 9,988 shares of the company's stock worth $564,000 after buying an additional 237 shares during the period. Bank of Montreal Can boosted its holdings in Malibu Boats by 8.6% in the 1st quarter. Bank of Montreal Can now owns 3,766 shares of the company's stock worth $239,000 after buying an additional 298 shares during the period. Finally, Hohimer Wealth Management LLC boosted its holdings in Malibu Boats by 3.0% in the 4th quarter. Hohimer Wealth Management LLC now owns 10,438 shares of the company's stock worth $572,000 after buying an additional 301 shares during the period. Hedge funds and other 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.