Malibu Boats (NASDAQ:MBUU) Stock Rating Upgraded by StockNews.com

Malibu Boats (NASDAQ:MBUU) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

MBUU has been the topic of a number of other reports. B. Riley upgraded shares of Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Benchmark reaffirmed a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a report on Tuesday, February 4th. KeyCorp lowered their target price on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Truist Financial raised their price target on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.83.

Malibu Boats Price Performance

NASDAQ MBUU opened at $30.94 on Tuesday. The company has a 50 day simple moving average of $35.63 and a 200-day simple moving average of $38.61. The firm has a market capitalization of $607.51 million, a price-to-earnings ratio of -7.11 and a beta of 1.42. Malibu Boats has a 52-week low of $29.69 and a 52-week high of $47.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts predict that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

A number of institutional investors have recently made changes to their positions in MBUU. Wellington Management Group LLP raised its stake in Malibu Boats by 154.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after buying an additional 897,387 shares during the period. Twin Lions Management LLC acquired a new position in shares of Malibu Boats during the 4th quarter worth approximately $19,807,000. Bank of New York Mellon Corp increased its holdings in Malibu Boats by 370.5% during the fourth 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 last quarter. Lodge Hill Capital LLC lifted its stake in Malibu Boats by 74.6% in the 4th quarter. Lodge Hill Capital LLC now owns 530,514 shares of the company’s stock valued at $19,942,000 after purchasing an additional 226,650 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Malibu Boats by 1,267.7% during the 3rd quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock valued at $9,259,000 after purchasing an additional 221,133 shares during the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

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.