Malibu Boats (NASDAQ:MBUU) Raised to Hold at StockNews.com

Malibu Boats (NASDAQ:MBUU) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

MBUU has been the subject of several other research reports. Baird R W downgraded shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research note on Thursday, March 20th. Truist Financial dropped their price target on shares of Malibu Boats from $38.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday. Benchmark reiterated a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. Finally, Robert W. Baird restated a “neutral” rating and issued a $32.00 target price (down from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.17.

Malibu Boats Stock Performance

Shares of MBUU stock opened at $26.11 on Tuesday. The company has a market cap of $512.67 million, a P/E ratio of -6.00 and a beta of 1.27. The business has a 50 day moving average of $31.40 and a two-hundred day moving average of $37.05. Malibu Boats has a 52 week low of $24.43 and a 52 week high of $47.82. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. As a group, analysts anticipate that Malibu Boats will post 1.69 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Heck Capital Advisors LLC acquired a new stake in Malibu Boats in the fourth quarter worth approximately $38,000. Quarry LP acquired a new stake in shares of Malibu Boats in the fourth quarter valued at $45,000. Central Pacific Bank Trust Division lifted its holdings in shares of Malibu Boats by 11.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after buying an additional 368 shares during the period. KLP Kapitalforvaltning AS bought a new position in Malibu Boats during the fourth quarter valued at about $150,000. Finally, GAMMA Investing LLC grew its holdings in Malibu Boats by 2,154.4% during the first quarter. GAMMA Investing LLC now owns 4,847 shares of the company’s stock worth $158,000 after acquiring an additional 4,632 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

About Malibu Boats

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.