Malibu Boats (NASDAQ:MBUU) Stock Rating Upgraded by StockNews.com

Malibu Boats (NASDAQ:MBUU) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Other research analysts have also recently issued research reports about the stock. Raymond James cut shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. Robert W. Baird reduced their target price on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Truist Financial reduced their target price on shares of Malibu Boats from $52.00 to $42.00 and set a “buy” rating for the company in a report on Friday, May 3rd. KeyCorp reduced their target price on shares of Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, B. Riley reduced their target price on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.14.

Malibu Boats Trading Down 1.4 %

NASDAQ MBUU opened at $35.42 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03. The firm has a market cap of $723.98 million, a PE ratio of -13.27 and a beta of 1.41. The company has a 50 day moving average price of $37.61 and a 200 day moving average price of $44.10. Malibu Boats has a 52 week low of $31.47 and a 52 week high of $62.36.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The business had revenue of $203.42 million during the quarter, compared to analysts’ expectations of $205.83 million. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. As a group, sell-side analysts forecast that Malibu Boats will post 1.84 EPS for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In related news, Director Mark W. Lanigan bought 20,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $33.43 per share, for a total transaction of $668,600.00. Following the completion of the transaction, the director now directly owns 73,368 shares in the company, valued at $2,452,692.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Malibu Boats

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in Malibu Boats during the fourth quarter worth about $48,000. EntryPoint Capital LLC purchased a new position in Malibu Boats during the first quarter worth about $84,000. Benjamin Edwards Inc. raised its stake in Malibu Boats by 13.8% during the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after purchasing an additional 318 shares during the period. Central Pacific Bank Trust Division purchased a new position in Malibu Boats during the first quarter worth about $142,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Malibu Boats by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock worth $194,000 after purchasing an additional 386 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Company Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.