Malibu Boats (NASDAQ:MBUU) Shares Down 2.7% After Analyst Downgrade

Malibu Boats, Inc. (NASDAQ:MBUU) dropped 2.7% during mid-day trading on Monday after Truist Financial lowered their price target on the stock from $38.00 to $28.00. Truist Financial currently has a hold rating on the stock. Malibu Boats traded as low as $26.61 and last traded at $26.48. Approximately 21,869 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 229,402 shares. The stock had previously closed at $27.21.

Several other equities research analysts also recently commented on the company. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 target price (down from $50.00) on shares of Malibu Boats in a report on Friday, April 4th. Baird R W lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Monday, April 7th. KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a report on Thursday, March 20th. Finally, Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.17.

Institutional Investors Weigh In On Malibu Boats

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Malibu Boats by 2,154.4% during the first quarter. GAMMA Investing LLC now owns 4,847 shares of the company’s stock worth $158,000 after acquiring an additional 4,632 shares in the last quarter. Wellington Management Group LLP increased its position in Malibu Boats by 3.8% in the 4th quarter. Wellington Management Group LLP now owns 1,533,605 shares of the company’s stock worth $57,648,000 after purchasing an additional 56,629 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Malibu Boats during the 4th quarter worth about $38,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Malibu Boats by 17.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 52,636 shares of the company’s stock valued at $1,979,000 after buying an additional 7,925 shares during the last quarter. Finally, Tybourne Capital Management HK Ltd. acquired a new stake in shares of Malibu Boats during the 4th quarter valued at about $3,006,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Trading Down 0.6 %

The company has a 50 day moving average of $31.89 and a 200 day moving average of $37.20. The firm has a market cap of $530.93 million, a P/E ratio of -6.22 and a beta of 1.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52.

Malibu Boats (NASDAQ:MBUU) last posted its 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%. Analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

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.