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 report published on Thursday.

A number of other research analysts have also weighed in on MBUU. KeyCorp cut their price objective on Malibu Boats from $50.00 to $38.00 and set an overweight rating for the company in a research report on Friday, May 3rd. Benchmark assumed coverage on Malibu Boats in a research report on Wednesday, May 22nd. They issued a buy rating and a $44.00 price target for the company. DA Davidson lowered Malibu Boats from a buy rating to a neutral rating and set a $45.00 price target for the company. in a research report on Wednesday, July 24th. Truist Financial reiterated a hold rating and issued a $32.00 price target on shares of Malibu Boats in a research report on Monday, July 8th. Finally, Raymond James lowered Malibu Boats from an outperform rating to a market perform rating in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $40.00.

Malibu Boats Price Performance

Shares of Malibu Boats stock opened at $39.16 on Thursday. Malibu Boats has a one year low of $30.20 and a one year high of $60.72. The stock’s fifty day moving average is $35.76 and its 200 day moving average is $39.84. The stock has a market cap of $800.43 million, a P/E ratio of -14.67 and a beta of 1.40. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share (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 analyst estimates of $205.83 million. Malibu Boats had a positive return on equity of 18.01% and a negative net margin of 5.19%. Sell-side analysts anticipate that Malibu Boats will post 1.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mark W. Lanigan acquired 20,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $33.43 per share, with a total value of $668,600.00. Following the completion of the purchase, the director now directly owns 73,368 shares in the company, valued at $2,452,692.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.62% of the stock is owned by insiders.

Institutional Trading of Malibu Boats

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in shares of Malibu Boats during the fourth quarter valued at approximately $48,000. EntryPoint Capital LLC purchased a new position in Malibu Boats during the first quarter valued at approximately $84,000. SG Americas Securities LLC purchased a new position in Malibu Boats during the second quarter valued at approximately $139,000. Central Pacific Bank Trust Division purchased a new position in Malibu Boats during the first quarter valued at approximately $142,000. Finally, Benjamin Edwards Inc. grew its holdings in Malibu Boats by 13.8% in the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after purchasing an additional 318 shares during the last quarter. 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.