Malibu Boats (NASDAQ:MBUU) Rating Lowered to “Sell” at StockNews.com

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

Several other analysts also recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research note on Tuesday, February 4th. KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research report on Thursday, March 20th. B. Riley upgraded Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Truist Financial lifted their price target on shares of Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price objective (down from $50.00) on shares of Malibu Boats in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $39.83.

Malibu Boats Price Performance

NASDAQ:MBUU traded down $2.08 during mid-day trading on Monday, reaching $26.43. 746,239 shares of the stock were exchanged, compared to its average volume of 228,866. 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 business has a fifty day moving average price of $33.45 and a 200 day moving average price of $37.77. Malibu Boats has a 1-year low of $25.93 and a 1-year high of $47.82. The firm has a market capitalization of $518.95 million, a PE ratio of -6.08 and a beta of 1.27.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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 expect that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in Malibu Boats by 154.8% during the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after acquiring an additional 897,387 shares during the period. Twin Lions Management LLC bought a new stake in shares of Malibu Boats during the fourth quarter valued at approximately $19,807,000. Bank of New York Mellon Corp raised its stake in shares of Malibu Boats by 370.5% in the fourth 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 in the last quarter. Lodge Hill Capital LLC lifted its position in Malibu Boats by 74.6% in the fourth 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 during the period. Finally, Janus Henderson Group PLC boosted its stake in Malibu Boats by 1,267.7% during the third quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock worth $9,259,000 after buying an additional 221,133 shares in the last quarter. 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.