Malibu Boats (NASDAQ:MBUU) Cut to Sector Weight at KeyCorp

KeyCorp lowered shares of Malibu Boats (NASDAQ:MBUU) from an overweight rating to a sector weight rating in a research note issued to investors on Thursday morning, MarketBeat reports.

Other analysts have also issued reports about the company. B. Riley raised Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Benchmark reissued a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a report on Tuesday, February 4th. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Truist Financial boosted their price objective on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a report on Friday, January 31st. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.83.

Malibu Boats Stock Down 0.9 %

Shares of NASDAQ MBUU opened at $29.55 on Thursday. Malibu Boats has a 1 year low of $29.02 and a 1 year high of $47.82. The firm has a market cap of $580.21 million, a price-to-earnings ratio of -6.79 and a beta of 1.42. 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 stock’s 50-day simple moving average is $34.91 and its 200-day simple moving average is $38.36.

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

Hedge Funds Weigh In On Malibu Boats

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of Malibu Boats by 8.2% during the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after buying an additional 43,769 shares during the period. Meros Investment Management LP bought a new position in Malibu Boats in the 3rd quarter worth approximately $4,117,000. Barclays PLC grew its holdings in Malibu Boats by 92.6% in the 3rd quarter. Barclays PLC now owns 46,919 shares of the company’s stock worth $1,820,000 after buying an additional 22,556 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Malibu Boats by 6.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 121,711 shares of the company’s stock worth $4,575,000 after buying an additional 7,186 shares in the last quarter. Finally, Atom Investors LP grew its holdings in Malibu Boats by 219.0% in the 3rd quarter. Atom Investors LP now owns 55,357 shares of the company’s stock worth $2,148,000 after buying an additional 38,002 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.