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

DA Davidson lowered shares of Malibu Boats (NASDAQ:MBUU) from a buy rating to a neutral rating in a report released on Friday, MarketBeat reports. DA Davidson currently has $45.00 price target on the stock.

Several other equities research analysts have also commented on MBUU. Truist Financial reaffirmed a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a report on Monday, July 8th. B. Riley decreased their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a report 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.57.

Malibu Boats Stock Down 3.6 %

Shares of Malibu Boats stock opened at $42.33 on Friday. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $56.03. The firm’s 50 day moving average price is $39.26 and its 200-day moving average price is $36.75. The company has a market cap of $847.02 million, a P/E ratio of -10.64 and a beta of 1.36.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.16. The firm had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.33%. The company’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 earnings per share. As a group, equities research analysts forecast that Malibu Boats will post 1.98 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

Several institutional investors have recently made changes to their positions in the company. Pzena Investment Management LLC purchased a new stake in shares of Malibu Boats in the 2nd quarter valued at approximately $51,800,000. Dimensional Fund Advisors LP lifted its stake in Malibu Boats by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after purchasing an additional 111,699 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Malibu Boats by 94.4% during the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after buying an additional 409,574 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Malibu Boats by 231.4% in the first quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock valued at $13,535,000 after buying an additional 218,378 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Malibu Boats by 7.2% in the 1st quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock valued at $13,307,000 after buying an additional 20,700 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.