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

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

Other equities analysts have also issued reports about the stock. Benchmark restated a "buy" rating and set a $44.00 price target 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 report on Thursday, March 20th. Robert W. Baird reiterated a "neutral" rating and issued a $32.00 price objective (down from $50.00) on shares of Malibu Boats in a research note on Friday, April 4th. Truist Financial lowered their target price on Malibu Boats from $38.00 to $28.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Finally, Baird R W cut Malibu Boats from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $38.17.

Malibu Boats Price Performance

NASDAQ:MBUU traded up $0.90 during trading hours on Tuesday, reaching $27.01. 245,703 shares of the company were exchanged, compared to its average volume of 224,501. The stock's 50-day moving average is $31.00 and its 200-day moving average is $36.87. Malibu Boats has a twelve month low of $24.43 and a twelve month high of $47.82. The firm has a market cap of $530.34 million, a PE ratio of -6.21 and a beta of 1.27. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04.

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 positive return on equity of 1.04% and a negative net margin of 12.09%. On average, sell-side analysts anticipate that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several hedge funds have recently added to or reduced their stakes in MBUU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Malibu Boats by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,711 shares of the company's stock valued at $1,735,000 after buying an additional 7,637 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Malibu Boats by 23.3% during the third quarter. Stifel Financial Corp now owns 18,370 shares of the company's stock worth $713,000 after purchasing an additional 3,472 shares during the last quarter. MML Investors Services LLC increased its position in shares of Malibu Boats by 22.2% during the third quarter. MML Investors Services LLC now owns 17,743 shares of the company's stock worth $689,000 after purchasing an additional 3,228 shares in the last quarter. Barclays PLC boosted its position in shares of Malibu Boats by 92.6% in the 3rd quarter. Barclays PLC now owns 46,919 shares of the company's stock valued at $1,820,000 after purchasing an additional 22,556 shares during the period. Finally, Geode Capital Management LLC grew its stake in Malibu Boats by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company's stock worth $22,361,000 after buying an additional 43,769 shares during the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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.