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

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

Several other research firms have also commented on MBUU. B. Riley upgraded Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Truist Financial raised their price objective on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Benchmark reissued a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. Finally, KeyCorp cut their price objective on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Malibu Boats presently has an average rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Stock Down 1.4 %

NASDAQ MBUU opened at $32.29 on Tuesday. Malibu Boats has a 52 week low of $29.69 and a 52 week high of $47.82. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $35.88 and its 200-day simple moving average is $38.70. The firm has a market cap of $634.01 million, a PE ratio of -7.42 and a beta of 1.42.

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

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors and hedge funds have recently made changes to their positions in MBUU. Wellington Management Group LLP lifted 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 worth $57,321,000 after purchasing an additional 897,387 shares during the last quarter. Twin Lions Management LLC purchased a new stake in Malibu Boats during the fourth quarter worth approximately $19,807,000. Bank of New York Mellon Corp lifted its stake in Malibu Boats by 370.5% during the fourth quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company’s stock worth $16,571,000 after purchasing an additional 347,144 shares during the last quarter. Lodge Hill Capital LLC lifted its stake in Malibu Boats by 74.6% during 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 last quarter. Finally, Janus Henderson Group PLC lifted 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 purchasing an additional 221,133 shares during 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.