Malibu Boats (NASDAQ:MBUU) Stock Rating Lowered by KeyCorp

Malibu Boats (NASDAQ:MBUU) was downgraded by KeyCorp from an “overweight” rating to a “sector weight” rating in a research report issued to clients and investors on Thursday, MarketBeat reports.

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

Malibu Boats Stock Down 0.9 %

MBUU opened at $29.55 on Thursday. 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 firm has a 50 day moving average price of $34.91 and a 200-day moving average price of $38.34. Malibu Boats has a twelve month low of $29.02 and a twelve month high of $47.82. The stock has a market capitalization of $580.21 million, a price-to-earnings ratio of -6.79 and a beta of 1.42.

Malibu Boats (NASDAQ:MBUU) last released 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%. Equities research analysts forecast that Malibu Boats will post 1.69 earnings per share for the current year.

Hedge Funds Weigh In On Malibu Boats

Hedge funds have recently modified their holdings of the company. Heck Capital Advisors LLC bought a new position in shares of Malibu Boats in the fourth quarter worth approximately $38,000. Studio Investment Management LLC boosted its position in shares of Malibu Boats by 53.7% in the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock worth $42,000 after purchasing an additional 380 shares during the period. Quarry LP bought a new position in shares of Malibu Boats in the fourth quarter worth approximately $45,000. Central Pacific Bank Trust Division boosted its position in shares of Malibu Boats by 11.3% in the fourth 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 during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Malibu Boats during the fourth quarter worth $150,000. 91.35% of the stock is currently owned by institutional investors.

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.