Surf Cat

Zacks Investment Research upgraded shares of Malibu Boats (NASDAQ:MBUU) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Malibu Boats, Inc. operates as a designer, manufacturer and marketer of sport boats primarily in the United States. The Company sells its boats under two brands: Malibu and Axis Wake Research. Its sport boats used for water sports including water skiing, wakeboarding and wake surfing as well as for general recreational boating use. Malibu Boats, Inc. is based in Loudon, United States. “

Several other equities research analysts have also commented on the stock. BidaskClub raised shares of Malibu Boats from a sell rating to a hold rating in a research report on Friday, October 18th. Raymond James lowered shares of Malibu Boats from a strong-buy rating to a market perform rating in a research report on Monday, July 22nd. BMO Capital Markets reduced their price target on shares of Malibu Boats from $62.00 to $52.00 and set an outperform rating for the company in a research report on Friday, August 30th. Wells Fargo & Co set a $40.00 price target on shares of Malibu Boats and gave the company a buy rating in a research report on Thursday, August 29th. Finally, KeyCorp reduced their price target on shares of Malibu Boats from $53.00 to $48.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Malibu Boats has an average rating of Buy and an average target price of $47.83.

Shares of MBUU stock traded down $0.18 during mid-day trading on Tuesday, reaching $37.83. 212,000 shares of the company’s stock traded hands, compared to its average volume of 226,730. The company has a quick ratio of 0.79, a current ratio of 1.69 and a debt-to-equity ratio of 0.54. The company has a market cap of $697.09 million, a P/E ratio of 10.31, a P/E/G ratio of 0.90 and a beta of 1.80. The company’s 50-day moving average price is $31.98 and its 200-day moving average price is $34.20. Malibu Boats has a 12 month low of $24.79 and a 12 month high of $50.15.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, November 7th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.13. Malibu Boats had a net margin of 9.66% and a return on equity of 44.28%. The business had revenue of $172.10 million for the quarter, compared to analysts’ expectations of $149.98 million. During the same quarter in the prior year, the business earned $0.67 EPS. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. Equities analysts predict that Malibu Boats will post 3.76 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MBUU. Advisor Group Inc. increased its position in shares of Malibu Boats by 111.1% during the 2nd quarter. Advisor Group Inc. now owns 859 shares of the company’s stock valued at $33,000 after purchasing an additional 452 shares during the last quarter. Aperio Group LLC purchased a new stake in Malibu Boats in the 2nd quarter worth approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Malibu Boats in the 2nd quarter worth approximately $68,000. SG Americas Securities LLC purchased a new stake in Malibu Boats in the 3rd quarter worth approximately $146,000. Finally, First Quadrant L P CA purchased a new stake in Malibu Boats in the 3rd quarter worth approximately $196,000.

About Malibu Boats

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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