Malibu Boats (NASDAQ:MBUU) Trading Down 2.7% After Analyst Downgrade

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price fell 2.7% on Monday after Truist Financial lowered their price target on the stock from $38.00 to $28.00. Truist Financial currently has a hold rating on the stock. Malibu Boats traded as low as $26.61 and last traded at $26.48. 21,869 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 229,402 shares. The stock had previously closed at $27.21.

A number of other research firms have also weighed in on MBUU. KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research note on Thursday, March 20th. StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. Robert W. Baird reissued a “neutral” rating and issued a $32.00 price objective (down previously from $50.00) on shares of Malibu Boats in a report on Friday, April 4th. Benchmark reaffirmed a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a report on Tuesday, February 4th. Finally, Baird R W cut Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $38.17.

Hedge Funds Weigh In On Malibu Boats

A number of hedge funds have recently bought and sold shares of MBUU. Heck Capital Advisors LLC acquired a new position in shares of Malibu Boats during the 4th quarter worth approximately $38,000. Quarry LP acquired a new stake in shares of Malibu Boats in the fourth quarter valued at about $45,000. Central Pacific Bank Trust Division increased its stake in shares of Malibu Boats by 11.3% during the fourth 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Malibu Boats during the 4th quarter worth about $150,000. Finally, GAMMA Investing LLC lifted its stake in Malibu Boats by 2,154.4% in the 1st quarter. GAMMA Investing LLC now owns 4,847 shares of the company’s stock valued at $158,000 after buying an additional 4,632 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Trading Down 2.7 %

The company has a fifty day moving average of $32.12 and a 200-day moving average of $37.28. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $519.84 million, a price-to-earnings ratio of -6.09 and a beta of 1.27.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. As a group, equities research analysts anticipate that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

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.