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

Malibu Boats (NASDAQ:MBUU)‘s stock had its “neutral” rating reissued by analysts at DA Davidson in a report released on Monday,Benzinga reports. They currently have a $30.00 price objective on the stock. DA Davidson’s target price would indicate a potential upside of 7.62% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Zacks Research raised shares of Malibu Boats from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. Weiss Ratings cut shares of Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Truist Financial dropped their target price on shares of Malibu Boats from $34.00 to $31.00 and set a “hold” rating on the stock in a research report on Monday, April 27th. Wall Street Zen upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Griffin Securities set a $30.00 price objective on Malibu Boats in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.00.

Malibu Boats Stock Down 0.0%

MBUU traded down $0.01 during trading hours on Monday, hitting $27.88. 246,164 shares of the company’s stock were exchanged, compared to its average volume of 303,477. The firm has a market cap of $547.47 million, a P/E ratio of -465.08 and a beta of 1.14. Malibu Boats has a 12-month low of $23.84 and a 12-month high of $39.65. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $26.46 and a 200 day moving average of $28.46.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly 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 negative net margin of 0.11% and a positive return on equity of 3.28%. The business had revenue of $235.70 million during the quarter, compared to the consensus estimate of $203.46 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts predict that Malibu Boats will post 1.37 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

A number of hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC acquired a new position in shares of Malibu Boats in the first quarter valued at approximately $194,403,000. Wellington Management Group LLP increased its stake in Malibu Boats by 27.1% in the 4th quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock valued at $47,621,000 after buying an additional 359,550 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Malibu Boats by 31.6% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company’s stock worth $18,770,000 after acquiring an additional 159,748 shares during the period. Bank of America Corp DE lifted its stake in shares of Malibu Boats by 44.6% in the 1st quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock worth $8,892,000 after acquiring an additional 105,734 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Malibu Boats in the first quarter valued at about $2,321,000. 91.35% of the stock is owned by institutional investors and hedge funds.

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.