BidaskClub cut shares of Malibu Boats (NASDAQ:MBUU) from a buy rating to a hold rating in a research report report published on Thursday morning.
Other equities research analysts have also recently issued reports about the company. B. Riley restated a neutral rating and set a $25.50 target price on shares of Malibu Boats in a research report on Friday, September 8th. BMO Capital Markets upgraded Malibu Boats from a market perform rating to an outperform rating and raised their target price for the company from $29.00 to $32.00 in a research report on Monday, September 11th. SunTrust Banks restated a buy rating and set a $32.00 target price (up from $30.00) on shares of Malibu Boats in a research report on Friday, September 8th. Zacks Investment Research upgraded Malibu Boats from a hold rating to a strong-buy rating and set a $30.00 price objective on the stock in a report on Thursday, September 7th. Finally, ValuEngine upgraded Malibu Boats from a buy rating to a strong-buy rating in a report on Wednesday, September 6th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $32.31.
Malibu Boats (NASDAQ:MBUU) traded down $0.18 during trading hours on Thursday, hitting $28.52. The stock had a trading volume of 102,500 shares, compared to its average volume of 206,167. 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. The firm has a market cap of $589.22, a PE ratio of 17.08, a PEG ratio of 0.99 and a beta of 1.00.
In other Malibu Boats news, COO Ritchie L. Anderson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $31.15, for a total value of $467,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jackie D. Jr. Springer sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $27.76, for a total transaction of $1,110,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,497 shares of company stock worth $3,964,297. 3.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlantic Trust Group LLC purchased a new position in Malibu Boats in the 3rd quarter worth approximately $1,292,000. GSA Capital Partners LLP lifted its stake in Malibu Boats by 5.1% in the 3rd quarter. GSA Capital Partners LLP now owns 94,678 shares of the company’s stock worth $2,996,000 after purchasing an additional 4,574 shares in the last quarter. Cetera Advisors LLC purchased a new position in Malibu Boats in the 3rd quarter worth approximately $539,000. California Public Employees Retirement System lifted its stake in Malibu Boats by 25.1% in the 3rd quarter. California Public Employees Retirement System now owns 84,317 shares of the company’s stock worth $2,668,000 after purchasing an additional 16,917 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. lifted its stake in Malibu Boats by 52.5% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 69,700 shares of the company’s stock worth $2,204,000 after purchasing an additional 24,000 shares in the last quarter.
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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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