Malibu Boats (NASDAQ:MBUU) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday, BidAskClub reports.
Other analysts also recently issued reports about the stock. SunTrust Banks raised their target price on shares of Malibu Boats from $45.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Raymond James raised their target price on shares of Malibu Boats from $56.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. They noted that the move was a valuation call. TheStreet upgraded shares of Malibu Boats from a “c+” rating to a “b-” rating in a report on Wednesday, May 20th. Robert W. Baird initiated coverage on shares of Malibu Boats in a report on Wednesday, July 15th. They set a “neutral” rating and a $55.00 target price on the stock. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Malibu Boats in a report on Sunday, June 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $61.25.
Malibu Boats stock opened at $50.80 on Friday. The company’s 50 day simple moving average is $57.26 and its 200 day simple moving average is $44.31. Malibu Boats has a fifty-two week low of $18.02 and a fifty-two week high of $63.88. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 17.22 and a beta of 1.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.77 and a quick ratio of 1.83.
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Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, August 27th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.12 by $0.28. The firm had revenue of $118.70 million for the quarter, compared to the consensus estimate of $100.41 million. Malibu Boats had a net margin of 9.43% and a return on equity of 28.59%. The business’s quarterly revenue was down 39.1% on a year-over-year basis. During the same period last year, the company posted $1.08 EPS. As a group, analysts predict that Malibu Boats will post 4.27 EPS for the current fiscal year.
In other news, COO Ritchie L. Anderson sold 16,889 shares of Malibu Boats stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $54.13, for a total value of $914,201.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Private Capital Group LLC acquired a new position in Malibu Boats during the first quarter worth $27,000. US Bancorp DE acquired a new position in Malibu Boats during the second quarter worth $60,000. Advisor Group Holdings Inc. acquired a new position in Malibu Boats during the first quarter worth $78,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Malibu Boats by 29.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,271 shares of the company’s stock worth $118,000 after buying an additional 520 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Malibu Boats during the first quarter worth $181,000. Institutional investors and hedge funds own 98.02% of the company’s stock.
Malibu Boats Company Profile
Malibu Boats, Inc designs, manufactures, distributes, markets, and sells recreational powerboats. The company offers performance sport boats under the Malibu and Axis brand names; and sterndrives and outboard boats under the Cobalt brand name. Its boats are used for water sports, including water skiing, wakeboarding, and wake surfing, as well as general recreational boating.
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8 Consumer Staples Stocks That Offer Good Value
Chances are you’ve been spending more time at home than usual. You may also be spending more of your budget on some creature comforts that might normally make it on your shopping list. These are the consumer staples that you rely on every day.
And that’s what makes the consumer staples one of the most interesting sectors for investors.
For starters, consumer staples are defensive stocks. They are stocks that tend to perform well when the economy is doing well or when it is performing poorly. That’s because they are essentials like toilet paper, packaged foods and beverages, even alcohol and tobacco.
Now the opposite side of this coin is that the price you pay for these items is somewhat fixed. And that means these stocks don’t fit the definition of growth stocks. But the Covid-19 pandemic has changed that equation a little bit. It’s not that people are necessarily paying more for these items. But they are buying more of these items.
And this means that consumer staples are having their moment in the sun. However, it also means that right now there are several consumer staples that are looking a little pricey. But if you know anything about these stocks, you know that many of these companies are mature companies that pay a respectable, and safe, dividend.
Fortunately, there are still several stocks that appear to have room to grow and offer a nice dividend for investors.