Malibu Boats (NASDAQ:MBUU) Rating Lowered to Sector Weight at KeyCorp

Malibu Boats (NASDAQ:MBUU) was downgraded by equities research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports.

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

Malibu Boats Stock Performance

NASDAQ MBUU opened at $30.81 on Thursday. The stock has a market capitalization of $604.95 million, a price-to-earnings ratio of -7.08 and a beta of 1.42. The stock has a 50-day moving average of $35.10 and a 200 day moving average of $38.45. 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 twelve month low of $29.70 and a twelve month high of $47.82.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. Sell-side analysts anticipate that Malibu Boats will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in Malibu Boats by 154.8% during the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after buying an additional 897,387 shares during the last quarter. Twin Lions Management LLC purchased a new position in shares of Malibu Boats during the 4th quarter worth $19,807,000. Bank of New York Mellon Corp boosted its position in shares of Malibu Boats by 370.5% during the 4th quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company’s stock valued at $16,571,000 after acquiring an additional 347,144 shares during the last quarter. Lodge Hill Capital LLC grew its holdings in shares of Malibu Boats by 74.6% in the fourth quarter. Lodge Hill Capital LLC now owns 530,514 shares of the company’s stock valued at $19,942,000 after purchasing an additional 226,650 shares during the period. Finally, Janus Henderson Group PLC increased its position in Malibu Boats by 1,267.7% during the third quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock worth $9,259,000 after purchasing an additional 221,133 shares during the last quarter. Institutional investors and hedge funds 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.