Malibu Boats (MBUU) Cut to Hold at BidaskClub

Malibu Boats (NASDAQ:MBUU) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

MBUU has been the topic of several other reports. ValuEngine downgraded Malibu Boats from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. BMO Capital Markets reaffirmed a “buy” rating and set a $32.00 target price on shares of Malibu Boats in a report on Friday, October 13th. SunTrust Banks reaffirmed a “buy” rating and set a $34.00 target price on shares of Malibu Boats in a report on Friday, November 10th. B. Riley reaffirmed a “neutral” rating and set a $29.50 target price (up from $25.50) on shares of Malibu Boats in a report on Monday, November 6th. Finally, Aegis began coverage on Malibu Boats in a research note on Monday, October 2nd. They issued a “buy” rating and a $37.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Malibu Boats has an average rating of “Buy” and a consensus target price of $32.31.

Shares of Malibu Boats (NASDAQ:MBUU) traded down $0.06 on Thursday, reaching $28.64. The company’s stock had a trading volume of 265,262 shares, compared to its average volume of 258,800. The firm has a market cap of $584.74, a P/E ratio of 17.08, a PEG ratio of 0.99 and a beta of 1.00. 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 current ratio of 1.46 and a quick ratio of 0.71.

In other news, CFO Wayne R. Wilson sold 35,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $31.20, for a total value of $1,092,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jackie D. Jr. Springer sold 40,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $27.76, for a total value of $1,110,400.00. The disclosure for this sale can be found here. Insiders sold a total of 131,497 shares of company stock worth $3,964,297 over the last three months. 3.50% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of MBUU. SG Americas Securities LLC bought a new stake in Malibu Boats in the 2nd quarter valued at about $116,000. Susquehanna International Group LLP bought a new stake in Malibu Boats in the 2nd quarter valued at about $200,000. Stevens Capital Management LP bought a new stake in Malibu Boats in the 2nd quarter valued at about $201,000. Laurion Capital Management LP bought a new stake in Malibu Boats in the 2nd quarter valued at about $211,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in Malibu Boats in the 2nd quarter valued at about $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.

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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