Malibu Boats (NASDAQ:MBUU) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Malibu Boats (NASDAQ:MBUU) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Several other research firms have also issued reports on MBUU. Raymond James lowered Malibu Boats from an outperform rating to a market perform rating in a research note on Monday, April 15th. Robert W. Baird lowered their price target on Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a research report on Friday, May 3rd. Benchmark initiated coverage on shares of Malibu Boats in a research report on Wednesday, May 22nd. They set a buy rating and a $44.00 price objective on the stock. KeyCorp lowered their target price on shares of Malibu Boats from $50.00 to $38.00 and set an overweight rating for the company in a report on Friday, May 3rd. Finally, B. Riley cut their price target on shares of Malibu Boats from $39.00 to $35.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $40.00.

Malibu Boats Trading Up 13.0 %

Shares of MBUU opened at $37.25 on Thursday. Malibu Boats has a fifty-two week low of $30.20 and a fifty-two week high of $60.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67. The company’s fifty day moving average is $35.68 and its 200 day moving average is $40.02. The stock has a market capitalization of $761.39 million, a PE ratio of -13.95 and a beta of 1.40.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. The firm had revenue of $203.42 million for the quarter, compared to the consensus estimate of $205.83 million. Sell-side analysts expect that Malibu Boats will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In related news, Director Mark W. Lanigan bought 20,000 shares of Malibu Boats stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $33.43 per share, with a total value of $668,600.00. Following the completion of the transaction, the director now owns 73,368 shares in the company, valued at approximately $2,452,692.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Malibu Boats

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of Malibu Boats in the fourth quarter valued at about $48,000. EntryPoint Capital LLC bought a new stake in shares of Malibu Boats in the 1st quarter valued at about $84,000. Benjamin Edwards Inc. lifted its position in shares of Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after purchasing an additional 318 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Malibu Boats during the first quarter valued at approximately $142,000. Finally, SG Americas Securities LLC purchased a new position in Malibu Boats during the second quarter valued at approximately $139,000. 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.