Malibu Boats (NASDAQ:MBUU) Rating Increased to Sell at StockNews.com

Malibu Boats (NASDAQ:MBUU) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also recently issued reports on the stock. B. Riley decreased their price target on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Robert W. Baird raised their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Friday. Truist Financial raised their target price on shares of Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a report on Friday. Finally, KeyCorp raised their target price on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.57.

Malibu Boats Trading Down 2.1 %

NASDAQ MBUU opened at $43.93 on Friday. The company has a fifty day simple moving average of $38.99 and a two-hundred day simple moving average of $36.60. The stock has a market cap of $879.04 million, a P/E ratio of -15.97 and a beta of 1.38. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). The company had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $157.54 million. Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The company’s quarterly revenue was down 57.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.96 EPS. As a group, sell-side analysts forecast that Malibu Boats will post 1.98 earnings per share for the current year.

Institutional Trading of Malibu Boats

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Malibu Boats by 74.1% during the first quarter. Principal Financial Group Inc. now owns 9,293 shares of the company’s stock worth $402,000 after purchasing an additional 3,954 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Malibu Boats by 54.8% in the first quarter. BNP Paribas Financial Markets now owns 19,453 shares of the company’s stock valued at $842,000 after acquiring an additional 6,888 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Malibu Boats in the first quarter worth approximately $142,000. Quantbot Technologies LP increased its position in shares of Malibu Boats by 121.9% during the first quarter. Quantbot Technologies LP now owns 6,568 shares of the company’s stock worth $284,000 after purchasing an additional 3,608 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in Malibu Boats by 21.3% in the 1st quarter. Empowered Funds LLC now owns 48,322 shares of the company’s stock valued at $2,091,000 after purchasing an additional 8,480 shares during the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.