Malibu Boats (NASDAQ:MBUU) Upgraded at B. Riley

Malibu Boats (NASDAQ:MBUU) was upgraded by investment analysts at B. Riley to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on MBUU. Truist Financial raised their price objective on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Robert W. Baird raised their price objective on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Friday, November 1st. KeyCorp lowered their target price on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, StockNews.com upgraded Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Malibu Boats has an average rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Price Performance

Shares of MBUU opened at $36.22 on Wednesday. Malibu Boats has a 1 year low of $30.20 and a 1 year high of $48.92. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45. The company has a market capitalization of $711.36 million, a price-to-earnings ratio of -8.33 and a beta of 1.33. The business has a 50-day moving average of $38.00 and a 200-day moving average of $38.81.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that Malibu Boats will post 1.76 earnings per share for the current year.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds and other institutional investors have recently modified their holdings of MBUU. Truist Financial Corp increased its holdings in shares of Malibu Boats by 35.6% during the second quarter. Truist Financial Corp now owns 8,448 shares of the company’s stock valued at $296,000 after acquiring an additional 2,219 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Malibu Boats by 31.6% during the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock valued at $202,000 after acquiring an additional 1,252 shares in the last quarter. Creative Planning acquired a new position in shares of Malibu Boats during the third quarter valued at about $223,000. nVerses Capital LLC bought a new stake in shares of Malibu Boats during the third quarter worth about $74,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Malibu Boats by 37.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company’s stock worth $4,445,000 after acquiring an additional 31,026 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.