StockNews.com Upgrades Malibu Boats (NASDAQ:MBUU) to "Hold"

Malibu Boats (NASDAQ:MBUU - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a report released on Tuesday.

Several other research analysts have also commented on the company. B. Riley upgraded Malibu Boats to a "hold" rating in a research report on Wednesday, February 12th. Truist Financial raised their price target on Malibu Boats from $34.00 to $38.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. 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 report on Wednesday, January 8th. Finally, Benchmark restated a "buy" rating and issued a $44.00 target price on shares of Malibu Boats in a report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $42.83.

Malibu Boats Price Performance

Shares of NASDAQ:MBUU traded down $0.97 during midday trading on Tuesday, reaching $31.32. 141,385 shares of the company were exchanged, compared to its average volume of 173,819. The stock has a market cap of $614.97 million, a PE ratio of -7.20 and a beta of 1.42. The business's fifty day moving average is $35.88 and its two-hundred day moving average is $38.70. Malibu Boats has a one year low of $29.69 and a one year 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.

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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 the consensus estimate 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%. As a group, analysts predict that Malibu Boats will post 1.69 earnings per share for the current year.

Institutional Trading of Malibu Boats

A number of large investors have recently modified their holdings of MBUU. Heck Capital Advisors LLC bought a new stake in Malibu Boats during the 4th quarter valued at $38,000. Studio Investment Management LLC lifted its stake in Malibu Boats by 53.7% in the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company's stock worth $42,000 after acquiring an additional 380 shares during the period. Quarry LP bought a new position in Malibu Boats during the 4th quarter worth about $45,000. Central Pacific Bank Trust Division increased its position in Malibu Boats by 11.3% during the 4th 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 during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Malibu Boats in the 4th quarter valued at about $150,000. Hedge funds and other 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.