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

StockNews.com upgraded shares of Malibu Boats (NASDAQ:MBUU) from a sell rating to a hold rating in a research report sent to investors on Friday.

MBUU has been the topic of a number of other reports. Robert W. Baird lifted their price target on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a report on Tuesday, February 4th. B. Riley upgraded Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. KeyCorp lowered their target price on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Truist Financial boosted their target price on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, January 31st. 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, the stock currently has an average rating of “Hold” and a consensus target price of $42.83.

Malibu Boats Stock Performance

Shares of Malibu Boats stock opened at $37.37 on Friday. The business’s fifty day simple moving average is $37.74 and its 200 day simple moving average is $38.79. The firm has a market capitalization of $733.95 million, a P/E ratio of -8.59 and a beta of 1.33. Malibu Boats has a 12 month low of $30.20 and a 12 month high of $48.92. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Malibu Boats will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Several hedge funds have recently made changes to their positions in MBUU. Heck Capital Advisors LLC purchased a new position in shares of Malibu Boats in the fourth quarter valued at $38,000. Studio Investment Management LLC boosted its holdings in shares of Malibu Boats by 53.7% in the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock worth $42,000 after purchasing an additional 380 shares in the last quarter. Quarry LP purchased a new position in shares of Malibu Boats in the 4th quarter worth about $45,000. nVerses Capital LLC purchased a new position in shares of Malibu Boats in the 3rd quarter worth about $74,000. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Malibu Boats by 11.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after purchasing an additional 368 shares in the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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.