Malibu Boats’ (MBUU) Neutral Rating Reiterated at DA Davidson

Malibu Boats (NASDAQ:MBUU)‘s stock had its “neutral” rating restated by DA Davidson in a note issued to investors on Thursday,Benzinga reports. They currently have a $30.00 target price on the stock. DA Davidson’s price target would suggest a potential upside of 12.23% from the company’s previous close.

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

Malibu Boats Stock Down 2.0%

Shares of MBUU traded down $0.55 during midday trading on Thursday, reaching $26.73. The stock had a trading volume of 29,615 shares, compared to its average volume of 304,598. Malibu Boats has a 1-year low of $23.84 and a 1-year high of $39.65. The company’s fifty day simple moving average is $26.35 and its two-hundred day simple moving average is $28.37. The company has a market cap of $524.98 million, a price-to-earnings ratio of -445.15 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 0.44.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, May 7th. The company reported $0.56 earnings per share 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 firm had revenue of $235.70 million during the quarter, compared to analysts’ expectations of $203.46 million. During the same quarter in the previous year, the business earned $0.72 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts expect that Malibu Boats will post 1.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MBUU. Wilson Asset Management International PTY Ltd. purchased a new stake in Malibu Boats during the 4th quarter worth about $1,325,000. GSA Capital Partners LLP purchased a new position in Malibu Boats during the third quarter worth approximately $1,041,000. Lodge Hill Capital LLC boosted its holdings in Malibu Boats by 12.7% in the third quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company’s stock valued at $28,719,000 after acquiring an additional 100,000 shares during the last quarter. Dean Capital Management grew its holdings in shares of Malibu Boats by 107.4% during the 3rd quarter. Dean Capital Management now owns 100,285 shares of the company’s stock worth $3,254,000 after purchasing an additional 51,927 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its position in shares of Malibu Boats by 31.6% in the fourth 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 in the last quarter. 91.35% of the stock is currently 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.