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

DA Davidson downgraded shares of Malibu Boats (NASDAQ:MBUU) from a buy rating to a neutral rating in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has $45.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. B. Riley reduced their target price 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. StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Finally, Truist Financial reiterated a “hold” rating and set a $32.00 target price on shares of Malibu Boats in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned 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 $44.57.

Malibu Boats Price Performance

NASDAQ MBUU opened at $43.93 on Friday. The company has a market cap of $879.04 million, a P/E ratio of -11.04 and a beta of 1.36. The stock has a 50-day moving average of $39.14 and a two-hundred day moving average of $36.69. Malibu Boats has a 1-year low of $30.20 and a 1-year high of $56.03.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. The firm had revenue of $171.60 million during the quarter, compared to analyst estimates of $165.33 million. Malibu Boats had a positive return on equity of 2.33% and a negative net margin of 10.90%. Malibu Boats’s revenue was down 32.9% compared to the same quarter last year. During the same period last year, the business posted $1.07 earnings per share. On average, analysts anticipate that Malibu Boats will post 1.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in shares of Malibu Boats by 4.7% during the second quarter. Principal Financial Group Inc. now owns 9,728 shares of the company’s stock worth $341,000 after purchasing an additional 435 shares during the last quarter. Studio Investment Management LLC boosted its position in shares of Malibu Boats by 264.4% in the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after purchasing an additional 513 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Malibu Boats by 9.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock valued at $439,000 after purchasing an additional 836 shares during the period. Bank of Montreal Can grew its stake in Malibu Boats by 10.4% during the 2nd quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock worth $442,000 after buying an additional 1,170 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Malibu Boats by 31.6% during the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock worth $202,000 after buying an additional 1,252 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.