Malibu Boats (NASDAQ:MBUU) Rating Increased to Sell at StockNews.com

Malibu Boats (NASDAQ:MBUU) was upgraded by stock analysts at StockNews.com to a “sell” rating in a note issued to investors on Saturday.

Several other equities analysts have also commented on MBUU. Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Friday. Robert W. Baird upped their price target on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday. DA Davidson lowered Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Friday. Truist Financial upped their price target on Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research note on Friday. Finally, KeyCorp upped their price target on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.57.

Malibu Boats Price Performance

Shares of NASDAQ MBUU opened at $43.93 on Friday. The company has a market capitalization of $879.04 million, a P/E ratio of -15.97 and a beta of 1.38. The company has a 50 day simple moving average of $38.99 and a 200-day simple moving average of $36.60. Malibu Boats has a 1 year low of $30.20 and a 1 year high of $56.03.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The business had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $157.54 million. During the same quarter in the prior year, the firm earned $2.96 EPS. Malibu Boats’s revenue for the quarter was down 57.4% compared to the same quarter last year. As a group, research analysts expect that Malibu Boats will post 1.98 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Hedge funds have recently bought and sold shares of the company. Studio Investment Management LLC lifted its stake in Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after acquiring an additional 513 shares in the last quarter. nVerses Capital LLC purchased a new stake in Malibu Boats during the 3rd quarter worth about $74,000. EntryPoint Capital LLC purchased a new stake in Malibu Boats during the 1st quarter worth about $84,000. SG Americas Securities LLC purchased a new stake in Malibu Boats during the 2nd quarter worth about $139,000. Finally, Central Pacific Bank Trust Division purchased a new stake in Malibu Boats during the 1st quarter worth about $142,000. 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.