DA Davidson Reaffirms Neutral Rating for Malibu Boats (NASDAQ:MBUU)

Malibu Boats (NASDAQ:MBUU)‘s stock had its “neutral” rating reissued by DA Davidson in a report released on Thursday,Benzinga reports. They presently have a $30.00 price target on the stock. DA Davidson’s target price indicates a potential upside of 12.23% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Zacks Research downgraded Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Wall Street Zen raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Griffin Securities set a $30.00 price objective on Malibu Boats in a research report on Tuesday, March 3rd. Weiss Ratings downgraded Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, Truist Financial dropped their target price on Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Malibu Boats presently has a consensus rating of “Hold” and an average target price of $31.00.

Malibu Boats Stock Down 2.0%

Malibu Boats stock traded down $0.55 during midday trading on Thursday, hitting $26.73. The stock had a trading volume of 29,615 shares, compared to its average volume of 304,598. The business has a fifty day moving average price of $26.35 and a 200 day moving average price of $28.37. Malibu Boats has a 12 month low of $23.84 and a 12 month high of $39.65. The stock has a market cap of $524.98 million, a P/E ratio of -445.15 and a beta of 1.14. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, May 7th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. Malibu Boats had a positive return on equity of 3.28% and a negative net margin of 0.11%.The company had revenue of $235.70 million during the quarter, compared to analyst estimates of $203.46 million. During the same quarter last year, the firm earned $0.72 EPS. The business’s revenue was up 3.1% on a year-over-year basis. Research analysts predict that Malibu Boats will post 1.37 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intesa Sanpaolo Wealth Management acquired a new position in shares of Malibu Boats in the fourth quarter worth about $31,000. BNP Paribas Financial Markets raised its holdings in shares of Malibu Boats by 43.3% during the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock valued at $67,000 after acquiring an additional 643 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Malibu Boats by 346.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock valued at $73,000 after acquiring an additional 1,801 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Malibu Boats by 108.5% in the 4th quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock valued at $93,000 after acquiring an additional 1,718 shares in the last quarter. Finally, Strs Ohio acquired a new position in Malibu Boats in the 1st quarter worth approximately $123,000. 91.35% of the stock is owned by institutional investors.

About Malibu Boats

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.