Published On: Wed, Sep 21st, 2016

Malibu Boats Inc. (MBUU) Trading Down 3.3%

Shares of Malibu Boats Inc. (NASDAQ:MBUU) dropped 3.3% during mid-day trading on Tuesday . The stock traded as low as $14.45 and last traded at $14.50, with a volume of 61,566 shares changing hands. The stock had previously closed at $14.99.
MBUU has been the topic of several recent research reports. Wells Fargo & Co. restated a “buy” rating on shares of Malibu Boats in a research report on Thursday, August 18th. Zacks Investment Research downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. TheStreet upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Wednesday, September 7th. SunTrust Banks Inc. upped their price objective on 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 restated a “buy” rating and issued a $19.00 price objective on shares of Malibu Boats in a research report on Monday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.67.
The company’s 50-day moving average is $13.64 and its 200-day moving average is $14.22. The firm has a market capitalization of $262.61 million, a PE ratio of 14.84 and a beta of 0.74.

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Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Wednesday, September 7th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Malibu Boats had a return on equity of 722.55% and a net margin of 7.13%. The firm had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $64.09 million. During the same period last year, the firm earned $0.32 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts predict that Malibu Boats Inc. will post $1.46 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. boosted its stake in Malibu Boats by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 287,853 shares of the company’s stock valued at $4,721,000 after buying an additional 1,477 shares in the last quarter. State Street Corp boosted its stake in Malibu Boats by 0.7% in the first quarter. State Street Corp now owns 366,576 shares of the company’s stock valued at $6,012,000 after buying an additional 2,592 shares in the last quarter. Geode Capital Management LLC boosted its stake in Malibu Boats by 14.7% in the first quarter. Geode Capital Management LLC now owns 117,900 shares of the company’s stock valued at $1,933,000 after buying an additional 15,098 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 valued at $18,983,000 after buying an additional 88,800 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Malibu Boats by 23.1% in the first quarter. Renaissance Technologies LLC now owns 59,700 shares of the company’s stock valued at $979,000 after buying an additional 11,200 shares in the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.
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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