Malibu Boats (NASDAQ:MBUU) Rating Lowered to “Sell” at StockNews.com

Malibu Boats (NASDAQ:MBUU) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

A number of other brokerages have also commented on MBUU. Benchmark reiterated a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a report on Tuesday, February 4th. KeyCorp cut their price objective on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Truist Financial boosted their target price on shares of Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, B. Riley raised Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Stock Down 2.7 %

NASDAQ MBUU traded down $0.90 during trading on Monday, hitting $32.48. The company’s stock had a trading volume of 135,888 shares, compared to its average volume of 172,632. Malibu Boats has a fifty-two week low of $30.20 and a fifty-two week high of $47.82. The company has a market cap of $637.74 million, a PE ratio of -7.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45. The business’s 50 day simple moving average is $36.49 and its 200-day simple moving average is $38.81.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly 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 negative net margin of 12.09% and a positive return on equity of 1.04%. On average, equities analysts anticipate that Malibu Boats will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Malibu Boats by 8.2% in the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after buying an additional 43,769 shares during the last quarter. Meros Investment Management LP purchased a new stake in shares of Malibu Boats in the 3rd quarter valued at approximately $4,117,000. Empowered Funds LLC lifted its holdings in shares of Malibu Boats by 38.8% in the 3rd quarter. Empowered Funds LLC now owns 66,606 shares of the company’s stock worth $2,585,000 after acquiring an additional 18,636 shares during the last quarter. Barclays PLC boosted its position in shares of Malibu Boats by 92.6% during the 3rd quarter. Barclays PLC now owns 46,919 shares of the company’s stock worth $1,820,000 after purchasing an additional 22,556 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Malibu Boats by 6.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 121,711 shares of the company’s stock worth $4,575,000 after purchasing an additional 7,186 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.