StockNews.com Upgrades Malibu Boats (NASDAQ:MBUU) to Hold

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 Thursday.

A number of other equities research analysts also recently issued reports on MBUU. Robert W. Baird lowered their target price on shares of Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a report on Friday, May 3rd. Benchmark assumed coverage on shares of Malibu Boats in a research note on Wednesday, May 22nd. They set a buy rating and a $44.00 price objective for the company. B. Riley reduced their target price on shares of Malibu Boats from $39.00 to $35.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. KeyCorp reduced their target price on shares of Malibu Boats from $50.00 to $38.00 and set an overweight rating on the stock in a research report on Friday, May 3rd. Finally, Truist Financial reissued a hold rating and set a $32.00 target price on shares of Malibu Boats in a research report on Monday, July 8th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $40.00.

Malibu Boats Stock Performance

Shares of MBUU opened at $39.16 on Thursday. The stock has a market cap of $800.43 million, a P/E ratio of -14.67 and a beta of 1.40. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $60.72. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $35.76 and a two-hundred day moving average of $39.84.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The business had revenue of $203.42 million during the quarter, compared to the consensus estimate of $205.83 million. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. As a group, research analysts predict that Malibu Boats will post 1.82 EPS for the current fiscal year.

Insider Transactions at Malibu Boats

In other news, Director Mark W. Lanigan bought 20,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $33.43 per share, for a total transaction of $668,600.00. Following the completion of the acquisition, the director now directly owns 73,368 shares in the company, valued at approximately $2,452,692.24. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.62% of the company’s stock.

Institutional Trading of Malibu Boats

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in Malibu Boats in the fourth quarter valued at approximately $48,000. EntryPoint Capital LLC bought a new position in Malibu Boats during the first quarter worth $84,000. SG Americas Securities LLC bought a new position in Malibu Boats during the second quarter worth $139,000. Central Pacific Bank Trust Division bought a new position in Malibu Boats during the first quarter worth $142,000. Finally, Benjamin Edwards Inc. increased its position in Malibu Boats by 13.8% during the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after acquiring an additional 318 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.