Malibu Boats (NASDAQ:MBUU) Lowered to “Sector Weight” Rating by KeyCorp

KeyCorp cut shares of Malibu Boats (NASDAQ:MBUU) from an overweight rating to a sector weight rating in a report published on Thursday, MarketBeat Ratings reports.

A number of other research analysts also recently commented on the company. Benchmark restated a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a research note on Tuesday, February 4th. B. Riley upgraded Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Truist Financial upped their price target on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.83.

Malibu Boats Stock Down 3.2 %

NASDAQ:MBUU opened at $29.83 on Thursday. The business’s fifty day moving average price is $35.00 and its 200 day moving average price is $38.39. 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 has a 1-year low of $29.19 and a 1-year high of $47.82. The firm has a market capitalization of $585.71 million, a price-to-earnings ratio of -6.86 and a beta of 1.42.

Malibu Boats (NASDAQ:MBUU) last issued its 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 negative net margin of 12.09% and a positive return on equity of 1.04%. On average, sell-side analysts forecast that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Institutional Trading of Malibu Boats

Hedge funds have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC bought a new stake in Malibu Boats during the 4th quarter valued at approximately $38,000. Studio Investment Management LLC boosted its stake in Malibu Boats by 53.7% during the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after purchasing an additional 380 shares during the period. Quarry LP bought a new stake in Malibu Boats during the 4th quarter valued at approximately $45,000. Central Pacific Bank Trust Division boosted its stake in Malibu Boats by 11.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after purchasing an additional 368 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in Malibu Boats during the 4th quarter valued at approximately $150,000. Institutional investors own 91.35% of the company’s stock.

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.