Malibu Boats (NASDAQ:MBUU) Cut to “Sector Weight” at KeyCorp

KeyCorp lowered shares of Malibu Boats (NASDAQ:MBUU) from an overweight rating to a sector weight rating in a report published on Thursday morning, Marketbeat.com reports.

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

Malibu Boats Trading Down 3.2 %

Malibu Boats stock opened at $29.83 on Thursday. The business has a 50 day moving average price of $35.00 and a two-hundred day moving average price of $38.39. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. The stock has a market cap of $585.71 million, a price-to-earnings ratio of -6.86 and a beta of 1.42. Malibu Boats has a 12 month low of $29.19 and a 12 month high of $47.82.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results 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, equities analysts forecast that Malibu Boats will post 1.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MBUU. Heck Capital Advisors LLC bought a new position in Malibu Boats in the 4th quarter valued at $38,000. Studio Investment Management LLC boosted its position in Malibu Boats by 53.7% in the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after buying an additional 380 shares during the last quarter. Quarry LP bought a new position in Malibu Boats in the 4th quarter valued at $45,000. Central Pacific Bank Trust Division boosted its position in shares of Malibu Boats by 11.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after purchasing an additional 368 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Malibu Boats in the 4th quarter worth $150,000. 91.35% of the stock is currently owned by institutional investors.

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.