Malibu Boats (NASDAQ:MBUU) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Malibu Boats (NASDAQ:MBUU) from a strong-buy rating to a hold rating in a research note released on Wednesday, January 10th.

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. “

MBUU has been the subject of a number of other research reports. ValuEngine cut Malibu Boats from a strong-buy rating to a buy rating in a research report on Monday, October 2nd. BMO Capital Markets reissued a buy rating and issued a $32.00 price objective on shares of Malibu Boats in a report on Friday, October 13th. SunTrust Banks reissued a buy rating and issued a $34.00 price objective on shares of Malibu Boats in a report on Friday, November 10th. B. Riley reissued a neutral rating and issued a $29.50 price objective (up previously from $25.50) on shares of Malibu Boats in a report on Monday, November 6th. Finally, Aegis assumed coverage on Malibu Boats in a report on Monday, October 2nd. They issued a buy rating and a $37.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Malibu Boats currently has an average rating of Buy and a consensus target price of $32.44.

Shares of Malibu Boats (NASDAQ MBUU) opened at $29.08 on Wednesday. Malibu Boats has a 52-week low of $17.17 and a 52-week high of $33.35. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.46. The company has a market capitalization of $606.33, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.09. Malibu Boats had a return on equity of 54.78% and a net margin of 9.42%. equities analysts forecast that Malibu Boats will post 1.96 earnings per share for the current year.

In related news, VP Deborah S. Kent sold 1,497 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $31.16, for a total value of $46,646.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jackie D. Jr. Springer sold 40,000 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $31.20, for a total value of $1,248,000.00. The disclosure for this sale can be found here. Insiders sold a total of 131,497 shares of company stock valued at $3,964,297 in the last ninety days. 3.50% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Malibu Boats during the 2nd quarter worth approximately $116,000. Susquehanna International Group LLP purchased a new stake in Malibu Boats during the 2nd quarter worth approximately $200,000. Stevens Capital Management LP purchased a new stake in Malibu Boats during the 2nd quarter worth approximately $201,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Malibu Boats during the 2nd quarter worth approximately $211,000. Finally, Laurion Capital Management LP purchased a new stake in Malibu Boats during the 2nd quarter worth approximately $211,000.

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Malibu Boats Company Profile

Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s segments include the U.S. and Australia. Each segment is engaged in the manufacturing, distribution, marketing and sale of performance sport boats. Its U.S. segment serves markets in North America, South America, Europe and Asia.

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