Malibu Boats (NASDAQ:MBUU) Trading Down 2.7% on Analyst Downgrade

Shares of Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) fell 2.7% during mid-day trading on Monday after Truist Financial lowered their price target on the stock from $38.00 to $28.00. Truist Financial currently has a hold rating on the stock. Malibu Boats traded as low as $26.61 and last traded at $26.48. 21,869 shares traded hands during trading, a decline of 90% from the average session volume of 229,402 shares. The stock had previously closed at $27.21.

Several other equities analysts have also recently issued reports on MBUU. StockNews.com cut Malibu Boats from a "hold" rating to a "sell" rating in a research report on Monday, April 7th. 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. KeyCorp cut shares of Malibu Boats from an "overweight" rating to a "sector weight" rating in a research note on Thursday, March 20th. Robert W. Baird reiterated a "neutral" rating and set a $32.00 price target (down from $50.00) on shares of Malibu Boats in a report on Friday, April 4th. Finally, B. Riley upgraded Malibu Boats to a "hold" rating in a report on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Malibu Boats has an average rating of "Hold" and a consensus price target of $38.17.

Institutional Trading of Malibu Boats

Several institutional investors have recently modified their holdings of MBUU. Twin Lions Management LLC acquired a new position in shares of Malibu Boats in the 4th quarter worth $19,807,000. Bank of New York Mellon Corp raised its holdings in Malibu Boats by 370.5% during the 4th quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company's stock worth $16,571,000 after buying an additional 347,144 shares during the period. Lodge Hill Capital LLC boosted its holdings in shares of Malibu Boats by 74.6% in the fourth quarter. Lodge Hill Capital LLC now owns 530,514 shares of the company's stock worth $19,942,000 after buying an additional 226,650 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Malibu Boats during the fourth quarter valued at approximately $8,221,000. Finally, Schroder Investment Management Group acquired a new position in Malibu Boats in the 4th quarter worth approximately $6,888,000. Institutional investors and hedge funds own 91.35% of the company's stock.

Malibu Boats Stock Performance

The company has a market capitalization of $530.34 million, a price-to-earnings ratio of -6.21 and a beta of 1.27. The firm's 50 day simple moving average is $31.00 and its 200-day simple moving average is $36.89. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued 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 negative net margin of 12.09% and a positive return on equity of 1.04%. Analysts expect that Malibu Boats, Inc. will post 1.69 EPS for the current year.

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.