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

StockNews.com upgraded shares of Malibu Boats (NASDAQ:MBUU) from a sell rating to a hold rating in a report issued on Tuesday.

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

Malibu Boats Stock Down 0.8 %

Shares of NASDAQ MBUU opened at $30.70 on Tuesday. Malibu Boats has a 52-week low of $29.69 and a 52-week high of $47.82. The firm has a market capitalization of $602.79 million, a price-to-earnings ratio of -7.06 and a beta of 1.42. The stock has a 50 day moving average price of $35.51 and a 200 day moving average price of $38.56. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.20 earnings per share 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%. Sell-side analysts expect that Malibu Boats will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in Malibu Boats by 154.8% in the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after buying an additional 897,387 shares during the last quarter. Twin Lions Management LLC purchased a new position in shares of Malibu Boats in the 4th quarter valued at approximately $19,807,000. Bank of New York Mellon Corp raised its position in shares of Malibu Boats by 370.5% in the 4th quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company’s stock valued at $16,571,000 after purchasing an additional 347,144 shares during the last quarter. Lodge Hill Capital LLC boosted 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 worth $19,942,000 after purchasing an additional 226,650 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position 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 worth $9,259,000 after purchasing an additional 221,133 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.