Malibu Boats (NASDAQ:MBUU) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Malibu Boats (NASDAQ:MBUUFree Report) from a sell rating to a hold rating in a report released on Monday morning.

Other analysts also recently issued reports about the stock. KeyCorp cut their target price on shares of Malibu Boats from $50.00 to $38.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. Benchmark began coverage on shares of Malibu Boats in a report on Wednesday, May 22nd. They issued a buy rating and a $44.00 price objective for the company. Raymond James cut shares of Malibu Boats from an outperform rating to a market perform rating in a report on Monday, April 15th. B. Riley lowered their price target on Malibu Boats from $45.00 to $39.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. Finally, Robert W. Baird cut their price target on shares of Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a research note on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Malibu Boats has an average rating of Moderate Buy and an average target price of $43.14.

Get Our Latest Stock Report on Malibu Boats

Malibu Boats Stock Performance

Shares of NASDAQ MBUU opened at $35.83 on Monday. The company has a market cap of $732.37 million, a PE ratio of -13.42 and a beta of 1.41. 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 has a 12-month low of $31.47 and a 12-month high of $60.72. The stock has a 50 day simple moving average of $35.73 and a 200-day simple moving average of $42.95.

Malibu Boats (NASDAQ:MBUUGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. Malibu Boats had a positive return on equity of 18.01% and a negative net margin of 5.19%. The company had revenue of $203.42 million during the quarter, compared to the consensus estimate of $205.83 million. On average, equities research analysts forecast that Malibu Boats will post 1.84 EPS for the current year.

Insider Buying and Selling

In other Malibu Boats news, Director Mark W. Lanigan bought 20,000 shares of the stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $33.43 per share, with a total value of $668,600.00. Following the acquisition, the director now owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Malibu Boats

Institutional investors and hedge funds have recently made changes to their positions in the company. Hohimer Wealth Management LLC boosted its stake in Malibu Boats by 3.0% in the 4th quarter. Hohimer Wealth Management LLC now owns 10,438 shares of the company’s stock worth $572,000 after purchasing an additional 301 shares during the period. Benjamin Edwards Inc. grew its stake in Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after buying an additional 318 shares during the last quarter. Swiss National Bank grew its stake in Malibu Boats by 1.8% in the 3rd quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $2,226,000 after buying an additional 800 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Malibu Boats by 9.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock worth $439,000 after purchasing an additional 836 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Malibu Boats during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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