Malibu Boats (NASDAQ:MBUU) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Malibu Boats (NASDAQ:MBUU) from a hold rating to a sell rating in a research note issued to investors on Thursday, 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. “

MBUU has been the subject of a number of other reports. BidaskClub downgraded shares of Malibu Boats from a sell rating to a strong sell rating in a report on Wednesday, July 24th. Raymond James downgraded shares of Malibu Boats from a strong-buy rating to a market perform rating in a report on Monday, July 22nd. SunTrust Banks lowered their price target on shares of Malibu Boats to $48.00 and set a buy rating for the company in a report on Monday, June 17th. B. Riley set a $62.00 price target on shares of Malibu Boats and gave the stock a buy rating in a report on Friday, July 19th. Finally, KeyCorp lowered their price target on shares of Malibu Boats from $53.00 to $48.00 and set an overweight rating for the company in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $53.29.

NASDAQ:MBUU opened at $26.10 on Thursday. The company has a market capitalization of $581.13 million, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 0.72 and a beta of 1.80. Malibu Boats has a twelve month low of $24.79 and a twelve month high of $59.57. The company has a current ratio of 1.61, a quick ratio of 0.72 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $31.37 and a two-hundred day moving average price of $38.57.

Several hedge funds and other institutional investors have recently modified their holdings of MBUU. Advisor Group Inc. boosted its position in shares of Malibu Boats by 111.1% in the second quarter. Advisor Group Inc. now owns 859 shares of the company’s stock worth $33,000 after acquiring an additional 452 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Malibu Boats in the second quarter worth approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Malibu Boats in the second quarter worth approximately $68,000. BNP Paribas Arbitrage SA boosted its position in shares of Malibu Boats by 1,412.1% in the first quarter. BNP Paribas Arbitrage SA now owns 4,642 shares of the company’s stock worth $184,000 after acquiring an additional 4,335 shares during the last quarter. Finally, Brinker Capital Inc. acquired a new stake in shares of Malibu Boats in the first quarter worth approximately $222,000.

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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