Malibu Boats (NASDAQ:MBUU) Downgraded by KeyCorp to Sector Weight

Malibu Boats (NASDAQ:MBUU - Get Free Report) was downgraded by stock analysts at KeyCorp from an "overweight" rating to a "sector weight" rating in a research report issued on Thursday, MarketBeat.com reports.

A number of other equities research analysts have also recently weighed in on the stock. Truist Financial lifted their price target 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. StockNews.com upgraded shares of Malibu Boats from a "sell" rating to a "hold" rating in a report on Tuesday, March 11th. B. Riley upgraded Malibu Boats to a "hold" rating in a research note on Wednesday, February 12th. Finally, Benchmark reaffirmed a "buy" rating and issued a $44.00 price objective on shares of Malibu Boats in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Malibu Boats currently has a consensus rating of "Hold" and an average price target of $42.83.

Malibu Boats Trading Up 2.8 %

Malibu Boats stock traded up $0.84 during mid-day trading on Thursday, hitting $30.39. The company's stock had a trading volume of 158,797 shares, compared to its average volume of 221,527. The stock's fifty day moving average is $34.83 and its two-hundred day moving average is $38.34. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $596.71 million, a PE ratio of -6.99 and a beta of 1.42. Malibu Boats has a 1 year low of $29.02 and a 1 year high of $47.82.

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Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share 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, analysts anticipate that Malibu Boats will post 1.69 EPS for the current year.

Institutional Trading of Malibu Boats

A number of large investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in Malibu Boats by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 1,533,605 shares of the company's stock worth $57,648,000 after purchasing an additional 56,629 shares in the last quarter. Cooke & Bieler LP boosted its stake in shares of Malibu Boats by 1.0% in the 4th quarter. Cooke & Bieler LP now owns 1,343,660 shares of the company's stock valued at $50,508,000 after buying an additional 13,767 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Malibu Boats by 1.0% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 719,717 shares of the company's stock worth $27,054,000 after buying an additional 6,865 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Malibu Boats by 10.6% during the fourth quarter. American Century Companies Inc. now owns 579,664 shares of the company's stock worth $21,790,000 after buying an additional 55,767 shares during the period. Finally, Geode Capital Management LLC raised its holdings 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 acquiring an additional 43,769 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company's stock.

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.