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

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

A number of other research analysts also recently commented on MBUU. Benchmark assumed coverage on Malibu Boats in a report on Wednesday, May 22nd. They issued a “buy” rating and a $44.00 price target for the company. Raymond James downgraded shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research note on Wednesday. Truist Financial reiterated a “hold” rating and set a $32.00 price objective on shares of Malibu Boats in a research note on Monday, July 8th. Finally, KeyCorp decreased their price objective on shares of Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.00.

Malibu Boats Stock Up 13.0 %

Shares of NASDAQ MBUU traded up $4.28 during trading on Thursday, reaching $37.25. 635,381 shares of the stock were exchanged, compared to its average volume of 272,170. The company has a market capitalization of $761.39 million, a price-to-earnings ratio of -13.95 and a beta of 1.40. The business’s 50-day moving average price is $35.62 and its 200 day moving average price is $40.04. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03. Malibu Boats has a twelve month low of $30.20 and a twelve month high of $60.72.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.14. The firm had revenue of $203.42 million for the quarter, compared to the consensus estimate of $205.83 million. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. As a group, equities analysts forecast that Malibu Boats will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In other Malibu Boats news, Director Mark W. Lanigan purchased 20,000 shares of Malibu Boats stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $33.43 per share, for a total transaction of $668,600.00. Following the transaction, the director now owns 73,368 shares in the company, valued at approximately $2,452,692.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.62% of the stock is owned by insiders.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently made changes to their positions in MBUU. International Assets Investment Management LLC bought a new stake in shares of Malibu Boats in the 4th quarter worth approximately $48,000. EntryPoint Capital LLC bought a new stake in Malibu Boats in the first quarter valued at $84,000. SG Americas Securities LLC bought a new position in shares of Malibu Boats during the second quarter worth about $139,000. Central Pacific Bank Trust Division bought a new position in shares of Malibu Boats during the first quarter worth about $142,000. Finally, Benjamin Edwards Inc. increased its holdings in shares of Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after acquiring an additional 318 shares during the period. 91.35% of the stock is owned by institutional investors.

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.