Malibu Boats (NASDAQ:MBUU) Upgraded to “Hold” by StockNews.com

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 morning.

MBUU has been the topic of several other research reports. Truist Financial reaffirmed a hold rating and set a $32.00 price objective on shares of Malibu Boats in a report on Monday, July 8th. Robert W. Baird cut their price target on Malibu Boats from $50.00 to $40.00 and set an outperform rating on the stock in a research report on Friday, May 3rd. Benchmark initiated coverage on Malibu Boats in a research note on Wednesday, May 22nd. They issued a buy rating and a $44.00 price objective for the company. DA Davidson lowered shares of Malibu Boats from a buy rating to a neutral rating and set a $45.00 target price on the stock. in a research report on Wednesday. Finally, Raymond James downgraded shares of Malibu Boats from an outperform rating to a market perform rating in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $40.00.

Malibu Boats Stock Performance

Shares of MBUU opened at $37.25 on Thursday. The company has a market capitalization of $761.39 million, a price-to-earnings ratio of -13.95 and a beta of 1.40. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $60.72. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $35.68 and a 200 day moving average price of $40.02.

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

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. 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. Dimensional Fund Advisors LP grew its holdings in Malibu Boats by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock worth $54,765,000 after acquiring an additional 38,450 shares during the period. Cooke & Bieler LP raised its position in Malibu Boats by 35.2% in the fourth quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock worth $50,476,000 after acquiring an additional 239,707 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Malibu Boats by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 435,541 shares of the company’s stock valued at $23,876,000 after acquiring an additional 7,844 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in shares of Malibu Boats by 231.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock worth $13,535,000 after purchasing an additional 218,378 shares in the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

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.