Malibu Boats (NASDAQ:MBUU) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Malibu Boats (NASDAQ:MBUU) to a sell rating in a research note issued to investors on Saturday morning.

MBUU has been the topic of a number of other reports. Truist Financial upped their target price on Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research note on Friday, November 1st. B. Riley cut their target price on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. KeyCorp lifted their target price on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Robert W. Baird boosted their target price on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.57.

Malibu Boats Stock Performance

MBUU opened at $43.80 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $863.52 million, a PE ratio of -11.01 and a beta of 1.36. The firm has a 50 day moving average of $39.43 and a two-hundred day moving average of $36.81. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The firm had revenue of $171.60 million during the quarter, compared to the consensus estimate of $165.33 million. During the same period in the prior year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was down 32.9% compared to the same quarter last year. On average, analysts anticipate that Malibu Boats will post 1.98 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Pzena Investment Management LLC bought a new position in Malibu Boats during the 2nd quarter valued at about $51,800,000. Dimensional Fund Advisors LP boosted its holdings in Malibu Boats by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after buying an additional 111,699 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Malibu Boats by 94.4% during the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock valued at $29,560,000 after purchasing an additional 409,574 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Malibu Boats by 231.4% in the first quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock worth $13,535,000 after buying an additional 218,378 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Malibu Boats by 7.2% in the first quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after buying an additional 20,700 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.