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

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

MBUU has been the subject of several other reports. B. Riley raised Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research report on Thursday, March 20th. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price objective (down previously from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. Truist Financial lifted their target price on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Finally, Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.83.

Malibu Boats Price Performance

Shares of Malibu Boats stock opened at $25.17 on Monday. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $32.92 and a 200-day simple moving average of $37.58. The stock has a market capitalization of $494.21 million, a price-to-earnings ratio of -5.79 and a beta of 1.27. Malibu Boats has a 1-year low of $24.89 and a 1-year high of $47.82.

Malibu Boats (NASDAQ:MBUU) last released its earnings results 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%. On average, sell-side analysts expect that Malibu Boats will post 1.69 earnings per share for the current year.

Institutional Investors Weigh In On Malibu Boats

A number of institutional investors have recently added to or reduced their stakes in MBUU. Heck Capital Advisors LLC bought a new position in shares of Malibu Boats during the 4th quarter worth approximately $38,000. Quarry LP acquired a new position in Malibu Boats during the fourth quarter worth $45,000. Central Pacific Bank Trust Division raised its stake in Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after acquiring an additional 368 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Malibu Boats during the fourth quarter valued at $150,000. Finally, GAMMA Investing LLC boosted its stake in shares of Malibu Boats by 2,154.4% in the 1st quarter. GAMMA Investing LLC now owns 4,847 shares of the company’s stock valued at $158,000 after purchasing an additional 4,632 shares in 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.