Malibu Boats (NASDAQ:MBUU) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Malibu Boats (NASDAQ:MBUU - Free Report) from a hold rating to a sell rating in a research report report published on Monday morning.

MBUU has been the topic of a number of other research reports. Robert W. Baird reiterated a "neutral" rating and set a $32.00 price objective (down previously from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. Benchmark reissued a "buy" rating and issued a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. B. Riley raised Malibu Boats to a "hold" rating in a research note on Wednesday, February 12th. KeyCorp lowered Malibu Boats from an "overweight" rating to a "sector weight" rating in a research note on Thursday, March 20th. Finally, Truist Financial upped their price objective on Malibu Boats from $34.00 to $38.00 and gave the company a "hold" rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Malibu Boats has an average rating of "Hold" and a consensus target price of $39.83.

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Malibu Boats Trading Up 2.7 %

Shares of NASDAQ:MBUU traded up $0.71 during trading on Monday, reaching $27.21. The company's stock had a trading volume of 181,458 shares, compared to its average volume of 230,786. The stock has a market capitalization of $534.27 million, a PE ratio of -6.26 and a beta of 1.27. Malibu Boats has a 12 month low of $24.43 and a 12 month high of $47.82. 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's 50 day simple moving average is $32.12 and its two-hundred day simple moving average is $37.29.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly earnings data 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 negative net margin of 12.09% and a positive return on equity of 1.04%. On average, research analysts predict that Malibu Boats will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently made changes to their positions in MBUU. Heck Capital Advisors LLC purchased a new stake in Malibu Boats during the fourth quarter worth $38,000. Quarry LP purchased a new stake in shares of Malibu Boats during the 4th quarter worth $45,000. Central Pacific Bank Trust Division boosted its position 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 valued at $136,000 after purchasing an additional 368 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Malibu Boats in the fourth quarter valued at about $150,000. Finally, GAMMA Investing LLC raised its holdings in Malibu Boats by 2,154.4% in the first quarter. GAMMA Investing LLC now owns 4,847 shares of the company's stock worth $158,000 after purchasing an additional 4,632 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.