Malibu Boats (NASDAQ:MBUU) Lowered to Sector Weight Rating by KeyCorp

Malibu Boats (NASDAQ:MBUU) was downgraded by research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a report issued on Thursday, MarketBeat.com reports.

A number of other research firms have also recently weighed in on MBUU. B. Riley raised shares of Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. Benchmark restated a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research report on Tuesday, February 4th. Truist Financial lifted their price objective on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.83.

Malibu Boats Price Performance

NASDAQ:MBUU opened at $30.81 on Thursday. The company has a market capitalization of $604.95 million, a P/E ratio of -7.08 and a beta of 1.42. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. Malibu Boats has a 52 week low of $29.70 and a 52 week high of $47.82. The stock’s fifty day moving average is $35.10 and its two-hundred day moving average is $38.45.

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 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%. Equities analysts expect that Malibu Boats will post 1.69 EPS for the current year.

Institutional Trading of Malibu Boats

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in Malibu Boats by 3.8% in the fourth quarter. Wellington Management Group LLP now owns 1,533,605 shares of the company’s stock valued at $57,648,000 after purchasing an additional 56,629 shares during the period. Cooke & Bieler LP raised its position in Malibu Boats by 1.0% in the 4th quarter. Cooke & Bieler LP now owns 1,343,660 shares of the company’s stock valued at $50,508,000 after purchasing an additional 13,767 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Malibu Boats by 1.0% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 719,717 shares of the company’s stock valued at $27,054,000 after buying an additional 6,865 shares during the period. American Century Companies Inc. grew its position in shares of Malibu Boats by 10.6% during the fourth quarter. American Century Companies Inc. now owns 579,664 shares of the company’s stock worth $21,790,000 after buying an additional 55,767 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Malibu Boats by 8.2% during the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after buying an additional 43,769 shares during the period. Hedge funds and other 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.