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

Malibu Boats (NASDAQ:MBUU) was downgraded by research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, Briefing.com reports. They currently have a $45.00 price target on the stock. DA Davidson’s price objective suggests a potential upside of 0.27% from the stock’s previous close.

MBUU has been the topic of a number of other reports. Truist Financial restated a “hold” rating and set a $32.00 price objective on shares of Malibu Boats in a research note on Monday, July 8th. B. Riley cut their price objective on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.00.

Malibu Boats Stock Performance

Shares of MBUU opened at $44.88 on Friday. Malibu Boats has a 1 year low of $30.20 and a 1 year high of $56.03. The company has a market cap of $898.05 million, a price-to-earnings ratio of -16.32 and a beta of 1.38. The firm has a fifty day moving average of $38.78 and a 200-day moving average of $36.55.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.07). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The firm had revenue of $158.70 million for the quarter, compared to analyst estimates of $157.54 million. During the same period last year, the firm posted $2.96 EPS. The business’s revenue was down 57.4% compared to the same quarter last year. Analysts predict that Malibu Boats will post 1.98 EPS for the current year.

Institutional Investors Weigh In On Malibu Boats

Institutional investors and hedge funds have recently bought and sold shares of the business. Studio Investment Management LLC lifted its holdings in 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 acquiring an additional 513 shares during the last quarter. nVerses Capital LLC purchased a new stake in Malibu Boats during the third quarter valued at about $74,000. EntryPoint Capital LLC purchased a new stake in Malibu Boats during the first quarter valued at about $84,000. SG Americas Securities LLC purchased a new stake in Malibu Boats during the second quarter valued at about $139,000. Finally, Central Pacific Bank Trust Division purchased a new stake in Malibu Boats during the first quarter valued at about $142,000. 91.35% of the stock is owned by institutional investors and hedge funds.

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.