Malibu Boats (NASDAQ:MBUU) Stock Rating Lowered by KeyCorp

Malibu Boats (NASDAQ:MBUU) was downgraded by equities researchers at KeyCorp from an “overweight” rating to a “sector weight” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports.

Other equities analysts have also issued research reports about the stock. Truist Financial increased their price objective on shares of Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, January 31st. StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Benchmark reiterated a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. Finally, B. Riley upgraded shares of Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $42.83.

Malibu Boats Price Performance

Shares of NASDAQ:MBUU opened at $29.55 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The firm has a fifty day moving average price of $34.91 and a 200 day moving average price of $38.34. Malibu Boats has a fifty-two week low of $29.02 and a fifty-two week high of $47.82. The firm has a market cap of $580.21 million, a price-to-earnings ratio of -6.79 and a beta of 1.42.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. As a group, sell-side analysts expect that Malibu Boats will post 1.69 earnings per share 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 company. Exchange Traded Concepts LLC raised its stake in shares of Malibu Boats by 4.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock valued at $300,000 after acquiring an additional 311 shares during the period. Central Pacific Bank Trust Division raised its stake in shares of Malibu Boats by 11.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after acquiring an additional 368 shares during the period. Studio Investment Management LLC raised its stake in shares of Malibu Boats by 53.7% in the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after acquiring an additional 380 shares during the period. Ameriprise Financial Inc. increased its stake in Malibu Boats by 0.7% in the 4th quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company’s stock worth $4,627,000 after buying an additional 815 shares during the period. Finally, Heck Capital Advisors LLC purchased a new position in Malibu Boats in the 4th quarter worth about $38,000. Hedge funds and other institutional investors 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.