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

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

A number of other analysts have also issued reports on MBUU. StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Truist Financial reiterated a “hold” rating and set a $32.00 price objective on shares of Malibu Boats in a research note on Monday, July 8th. Finally, B. Riley dropped their price target on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Malibu Boats has an average rating of “Hold” and an average target price of $40.00.

Malibu Boats Stock Performance

NASDAQ MBUU opened at $44.88 on Friday. Malibu Boats has a one year low of $30.20 and a one year high of $56.03. The company’s 50 day moving average price is $38.78 and its 200 day moving average price is $36.55. The firm has a market capitalization of $898.05 million, a price-to-earnings ratio of -16.32 and a beta of 1.38.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, August 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). The firm had revenue of $158.70 million for the quarter, compared to analysts’ expectations of $157.54 million. Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The company’s revenue for the quarter was down 57.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.96 EPS. Sell-side analysts forecast that Malibu Boats will post 1.98 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently made changes to their positions in MBUU. Principal Financial Group Inc. boosted its holdings in Malibu Boats by 4.7% in 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 period. Studio Investment Management LLC boosted its holdings in Malibu Boats by 264.4% in the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after purchasing an additional 513 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Malibu Boats by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock worth $439,000 after purchasing an additional 836 shares during the period. Bank of Montreal Can boosted its holdings in Malibu Boats by 10.4% in the second quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock worth $442,000 after purchasing an additional 1,170 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Malibu Boats by 31.6% in the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock worth $202,000 after purchasing an additional 1,252 shares during the period. Institutional investors own 91.35% of the company’s stock.

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.