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

Malibu Boats (NASDAQ:MBUU) was downgraded by stock analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. They presently have a $45.00 target price on the stock. DA Davidson’s price objective would indicate a potential upside of 2.44% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Truist Financial restated a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a report on Monday, July 8th. StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Finally, B. Riley reduced their price objective on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.57.

Malibu Boats Stock Down 2.1 %

NASDAQ MBUU opened at $43.93 on Friday. The stock’s 50-day simple moving average is $39.14 and its two-hundred day simple moving average is $36.67. Malibu Boats has a twelve month low of $30.20 and a twelve month high of $56.03. The company has a market capitalization of $879.04 million, a price-to-earnings ratio of -11.04 and a beta of 1.36.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, August 29th. The company reported ($0.39) earnings per share 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 10.90% and a positive return on equity of 2.33%. The business’s quarterly revenue was down 57.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.96 earnings per share. On average, equities analysts expect that Malibu Boats will post 1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several hedge funds and other institutional investors have recently modified their holdings of MBUU. Bessemer Group Inc. raised its position in Malibu Boats by 7.2% during the 1st quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock valued at $13,307,000 after purchasing an additional 20,700 shares during the last quarter. PAX Financial Group LLC purchased a new stake in Malibu Boats in the first quarter worth $579,000. Assenagon Asset Management S.A. bought a new stake in Malibu Boats in the second quarter valued at $3,667,000. Lord Abbett & CO. LLC boosted its holdings in 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 acquiring an additional 218,378 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Malibu Boats by 54.8% during the 1st quarter. BNP Paribas Financial Markets now owns 19,453 shares of the company’s stock valued at $842,000 after purchasing an additional 6,888 shares during the period. 91.35% of the stock is owned by institutional investors.

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.