Malibu Boats (NASDAQ:MBUU) Raised to Sell at StockNews.com

StockNews.com upgraded shares of Malibu Boats (NASDAQ:MBUU - Free Report) to a sell rating in a research report report published on Saturday.

A number of other research analysts also recently weighed in on the stock. DA Davidson downgraded shares of Malibu Boats from a "buy" rating to a "neutral" rating and set a $45.00 target price for the company. in a research report on Friday. KeyCorp lifted their price objective on shares of Malibu Boats from $38.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday. Benchmark reissued a "buy" rating and issued a $44.00 price objective on shares of Malibu Boats in a research report on Friday. Truist Financial lifted their price objective on shares of Malibu Boats from $32.00 to $42.00 and gave the company a "hold" rating in a research report on Friday. Finally, Robert W. Baird lifted their price objective on shares of Malibu Boats from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $44.57.

Malibu Boats Trading Down 2.1 %

Shares of Malibu Boats stock opened at $43.93 on Friday. The stock has a market capitalization of $879.04 million, a price-to-earnings ratio of -15.97 and a beta of 1.38. Malibu Boats has a 1-year low of $30.20 and a 1-year high of $56.03. The firm's 50-day moving average price is $38.99 and its two-hundred day moving average price is $36.60.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.07). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The firm had revenue of $158.70 million during the quarter, compared to analyst estimates of $157.54 million. During the same quarter last year, the business posted $2.96 earnings per share. The company's revenue for the quarter was down 57.4% on a year-over-year basis. As a group, equities research analysts predict that Malibu Boats will post 1.98 EPS for the current year.

Institutional Trading of Malibu Boats

A number of institutional investors have recently modified their holdings of MBUU. Studio Investment Management LLC increased its holdings in Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company's stock worth $25,000 after acquiring an additional 513 shares during the period. nVerses Capital LLC bought a new position in shares of Malibu Boats in the 3rd quarter worth $74,000. EntryPoint Capital LLC bought a new position in shares of Malibu Boats in the 1st quarter worth $84,000. Central Pacific Bank Trust Division bought a new position in shares of Malibu Boats in the 1st quarter worth $142,000. Finally, SG Americas Securities LLC bought a new position in shares of Malibu Boats in the 2nd quarter worth $139,000. 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.