Malibu Boats (NASDAQ:MBUU) Downgraded to Neutral at DA Davidson

Malibu Boats (NASDAQ:MBUU) was downgraded by investment analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $45.00 price objective on the stock. DA Davidson’s target price points to a potential upside of 20.81% from the stock’s current price.

Other research analysts have also issued research reports about the company. Truist Financial reaffirmed a “hold” rating and set a $32.00 price target on shares of Malibu Boats in a research report on Monday, July 8th. B. Riley lowered their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. StockNews.com lowered Malibu Boats from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. Benchmark started coverage on Malibu Boats in a report on Wednesday, May 22nd. They set a “buy” rating and a $44.00 target price on the stock. Finally, Robert W. Baird decreased their target price on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.00.

Malibu Boats Stock Up 13.0 %

NASDAQ:MBUU opened at $37.25 on Wednesday. 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 stock has a 50-day simple moving average of $35.62 and a 200 day simple moving average of $40.04. The company has a market cap of $761.39 million, a PE ratio of -13.95 and a beta of 1.40. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $60.72.

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

Insider Activity at Malibu Boats

In other news, Director Mark W. Lanigan purchased 20,000 shares of Malibu Boats stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $33.43 per share, for a total transaction of $668,600.00. Following the purchase, the director now directly owns 73,368 shares of the company’s stock, valued at approximately $2,452,692.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.62% of the stock is currently owned by corporate insiders.

Institutional Trading of Malibu Boats

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in Malibu Boats in the 4th quarter valued at $48,000. EntryPoint Capital LLC bought a new stake in shares of Malibu Boats during the 1st quarter valued at $84,000. Benjamin Edwards Inc. lifted its position in shares of Malibu Boats by 13.8% during the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after acquiring an additional 318 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Malibu Boats during the 1st quarter valued at $142,000. Finally, SG Americas Securities LLC bought a new stake in shares of Malibu Boats during the 2nd quarter valued at $139,000. 91.35% of the stock is currently owned by institutional investors.

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.