Malibu Boats (NASDAQ:MBUU) Downgraded to Sector Weight Rating by KeyCorp

KeyCorp cut shares of Malibu Boats (NASDAQ:MBUU) from an overweight rating to a sector weight rating in a report issued on Thursday, Marketbeat Ratings reports.

A number of other equities research analysts also recently commented on the company. Truist Financial increased their price objective on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, January 31st. B. Riley upgraded Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. Benchmark reiterated a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. Finally, StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Stock Performance

Shares of NASDAQ MBUU opened at $29.55 on Thursday. The stock has a fifty day moving average price of $34.91 and a two-hundred day moving average price of $38.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The firm has a market cap of $580.21 million, a P/E ratio of -6.79 and a beta of 1.42. Malibu Boats has a 1 year low of $29.02 and a 1 year high of $47.82.

Malibu Boats (NASDAQ:MBUU) last announced 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 negative net margin of 12.09% and a positive return on equity of 1.04%. Research analysts forecast that Malibu Boats will post 1.69 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Malibu Boats by 8.2% in the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after purchasing an additional 43,769 shares in the last quarter. Meros Investment Management LP purchased a new stake in shares of Malibu Boats during the third quarter worth $4,117,000. Barclays PLC raised its holdings in shares of Malibu Boats by 92.6% during the third quarter. Barclays PLC now owns 46,919 shares of the company’s stock worth $1,820,000 after acquiring an additional 22,556 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Malibu Boats by 6.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 121,711 shares of the company’s stock worth $4,575,000 after acquiring an additional 7,186 shares in the last quarter. Finally, Atom Investors LP raised its holdings in shares of Malibu Boats by 219.0% during the third quarter. Atom Investors LP now owns 55,357 shares of the company’s stock worth $2,148,000 after acquiring an additional 38,002 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.