Malibu Boats Inc. (MBUU) Lowered to “Sell” at Zacks Investment Research

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Malibu Boats Inc. (NASDAQ:MBUU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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 several other research reports. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Malibu Boats in a research report on Thursday, September 8th. TheStreet raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Wednesday, September 7th. SunTrust Banks Inc. increased their price objective on shares of Malibu Boats from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, September 8th. Finally, B. Riley reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Malibu Boats in a research report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.67.

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Malibu Boats (NASDAQ:MBUU) traded up 1.58% during mid-day trading on Tuesday, reaching $14.79. 162,670 shares of the company traded hands. The stock has a market capitalization of $261.72 million, a PE ratio of 14.79 and a beta of 0.74. Malibu Boats has a 52-week low of $11.38 and a 52-week high of $18.08. The firm’s 50-day moving average is $13.50 and its 200 day moving average is $14.24.
Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Wednesday, September 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Malibu Boats had a net margin of 7.13% and a return on equity of 722.55%. The company earned $66.70 million during the quarter, compared to the consensus estimate of $64.09 million. During the same quarter last year, the company earned $0.32 earnings per share. Malibu Boats’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts expect that Malibu Boats will post $1.46 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new stake in Malibu Boats during the second quarter worth $3,496,000. Macquarie Group Ltd. increased its position in Malibu Boats by 33.7% in the second quarter. Macquarie Group Ltd. now owns 1,046,759 shares of the company’s stock worth $12,645,000 after buying an additional 263,731 shares in the last quarter. Wellington Management Group LLP increased its position in Malibu Boats by 8.3% in the first quarter. Wellington Management Group LLP now owns 1,157,517 shares of the company’s stock worth $18,983,000 after buying an additional 88,800 shares in the last quarter. Skylands Capital LLC increased its position in Malibu Boats by 256.3% in the second quarter. Skylands Capital LLC now owns 119,550 shares of the company’s stock worth $1,444,000 after buying an additional 86,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Malibu Boats by 87.9% in the second quarter. Dimensional Fund Advisors LP now owns 168,650 shares of the company’s stock worth $2,037,000 after buying an additional 78,911 shares in the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.
Malibu Boats Company Profile
Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s boats are used for water sports, including water skiing, wakeboarding and wake surfing, as well as general recreational boating. The Company sells its boats under two brands: Malibu and Axis. Its flagship Malibu brand boats are designed for consumers seeking a premium boating experience.

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