Malibu Boats (NASDAQ:MBUU) Raised to “Hold” at B. Riley

Malibu Boats (NASDAQ:MBUU) was upgraded by analysts at B. Riley to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also commented on MBUU. StockNews.com raised shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. Truist Financial raised their target price on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Benchmark reissued a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research report on Tuesday, February 4th. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Friday, November 1st. Finally, Robert W. Baird lifted their target price on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.83.

Malibu Boats Trading Down 0.7 %

Shares of NASDAQ MBUU opened at $36.22 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. Malibu Boats has a 12 month low of $30.20 and a 12 month high of $48.92. The company has a market cap of $711.36 million, a price-to-earnings ratio of -8.33 and a beta of 1.33. The business has a fifty day simple moving average of $38.00 and a 200-day simple moving average of $38.81.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data 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%. Sell-side analysts predict that Malibu Boats will post 1.76 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Truist Financial Corp lifted its holdings in shares of Malibu Boats by 35.6% during the 2nd quarter. Truist Financial Corp now owns 8,448 shares of the company’s stock valued at $296,000 after buying an additional 2,219 shares during the last quarter. SG Americas Securities LLC raised its position in Malibu Boats by 31.6% during the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock valued at $202,000 after acquiring an additional 1,252 shares in the last quarter. Creative Planning acquired a new stake in Malibu Boats in the third quarter valued at approximately $223,000. nVerses Capital LLC bought a new stake in Malibu Boats in the third quarter worth approximately $74,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Malibu Boats by 37.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company’s stock worth $4,445,000 after purchasing an additional 31,026 shares during the last quarter. Hedge funds and other institutional investors 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.