Malibu Boats (NASDAQ:MBUU) Upgraded at StockNews.com

StockNews.com upgraded shares of Malibu Boats (NASDAQ:MBUU) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

A number of other brokerages also recently issued reports on MBUU. Truist Financial decreased their price target on Malibu Boats from $52.00 to $42.00 and set a buy rating for the company in a report on Friday, May 3rd. Raymond James downgraded Malibu Boats from an outperform rating to a market perform rating in a report on Monday, April 15th. KeyCorp decreased their price target on Malibu Boats from $50.00 to $38.00 and set an overweight rating for the company in a report on Friday, May 3rd. Robert W. Baird decreased their price target on Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a report on Friday, May 3rd. Finally, B. Riley reduced their target price on Malibu Boats from $45.00 to $39.00 and set a neutral rating for the company in a report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Malibu Boats currently has an average rating of Moderate Buy and a consensus price target of $43.14.

Malibu Boats Price Performance

NASDAQ:MBUU opened at $36.10 on Wednesday. The stock has a fifty day moving average price of $37.55 and a 200 day moving average price of $44.04. Malibu Boats has a 12-month low of $31.47 and a 12-month high of $62.36. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. The firm 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%. Equities analysts expect that Malibu Boats will post 1.84 earnings per share for the current fiscal year.

Insider Activity at Malibu Boats

In related news, Director Mark W. Lanigan purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average price of $33.43 per share, for a total transaction of $668,600.00. Following the transaction, the director now directly owns 73,368 shares of the company’s stock, valued at approximately $2,452,692.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its position in Malibu Boats by 828.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,686 shares of the company’s stock worth $2,285,000 after purchasing an additional 37,197 shares during the period. Invesco Ltd. increased its position in Malibu Boats by 272.7% during the 3rd quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock worth $6,231,000 after purchasing an additional 93,004 shares during the period. UBS Group AG increased its position in Malibu Boats by 33.7% during the 3rd quarter. UBS Group AG now owns 147,563 shares of the company’s stock worth $7,234,000 after purchasing an additional 37,217 shares during the period. Vanguard Group Inc. increased its position in Malibu Boats by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock worth $66,926,000 after purchasing an additional 35,474 shares during the period. Finally, Swiss National Bank increased its position in Malibu Boats by 1.8% during the 3rd quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $2,226,000 after purchasing an additional 800 shares during the period. 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.