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

Malibu Boats (NASDAQ:MBUU)‘s stock had its “neutral” rating reissued by investment analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They presently have a $30.00 target price on the stock. DA Davidson’s price target indicates a potential upside of 7.62% from the stock’s previous close.

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

Malibu Boats Price Performance

MBUU traded down $0.01 during trading on Monday, reaching $27.88. 246,164 shares of the stock were exchanged, compared to its average volume of 303,477. Malibu Boats has a 1 year low of $23.84 and a 1 year high of $39.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.31 and a quick ratio of 0.44. The business’s 50 day moving average price is $26.46 and its two-hundred day moving average price is $28.46. The company has a market capitalization of $547.47 million, a price-to-earnings ratio of -465.08 and a beta of 1.14.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $235.70 million for the quarter, compared to analysts’ expectations of $203.46 million. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. As a group, equities research analysts anticipate that Malibu Boats will post 1.37 earnings per share for the current year.

Institutional Trading of Malibu Boats

Several large investors have recently bought and sold shares of MBUU. Parallel Advisors LLC purchased a new stake in shares of Malibu Boats during the first quarter valued at approximately $194,403,000. Wellington Management Group LLP grew its stake in shares of Malibu Boats by 27.1% during the fourth quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company’s stock valued at $47,621,000 after acquiring an additional 359,550 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Malibu Boats by 31.6% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company’s stock valued at $18,770,000 after acquiring an additional 159,748 shares in the last quarter. Bank of America Corp DE increased its position in shares of Malibu Boats by 44.6% during the first 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 last quarter. Finally, Empowered Funds LLC purchased a new stake in Malibu Boats during the 1st quarter worth approximately $2,321,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.