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

StockNews.com upgraded shares of Malibu Boats (NASDAQ:MBUU) from a sell rating to a hold rating in a research note published on Tuesday morning.

Several other equities research analysts have also recently commented on the company. B. Riley raised Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Baird R W lowered Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Benchmark restated a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research report on Tuesday, February 4th. Truist Financial lowered their price target on shares of Malibu Boats from $38.00 to $28.00 and set a “hold” rating for the company in a research report on Monday. Finally, KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a report on Thursday, March 20th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $38.17.

Malibu Boats Stock Performance

Malibu Boats stock opened at $26.64 on Tuesday. Malibu Boats has a 12-month low of $24.43 and a 12-month high of $47.82. The stock has a 50-day simple moving average of $31.64 and a 200 day simple moving average of $37.13. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $523.08 million, a price-to-earnings ratio of -6.12 and a beta of 1.27.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, research analysts anticipate that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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