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

DA Davidson downgraded shares of Malibu Boats (NASDAQ:MBUU) from a buy rating to a neutral rating in a report issued on Wednesday morning, Marketbeat.com reports. They currently have $45.00 price objective on the stock.

A number of other equities research analysts have also weighed in on MBUU. KeyCorp dropped their price target on Malibu Boats from $50.00 to $38.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. Raymond James downgraded Malibu Boats from an outperform rating to a market perform rating in a report on Monday, April 15th. B. Riley decreased their target price on Malibu Boats from $39.00 to $35.00 and set a neutral rating for the company in a report on Wednesday, July 10th. StockNews.com downgraded Malibu Boats from a hold rating to a sell rating in a report on Tuesday, July 9th. Finally, Truist Financial reaffirmed a hold rating and set a $32.00 target price on shares of Malibu Boats in a report on Monday, July 8th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Malibu Boats currently has an average rating of Hold and an average price target of $40.00.

Malibu Boats Price Performance

Shares of MBUU stock opened at $39.16 on Wednesday. Malibu Boats has a fifty-two week low of $30.20 and a fifty-two week high of $60.72. The firm has a market capitalization of $800.43 million, a price-to-earnings ratio of -14.67 and a beta of 1.40. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67. The stock’s 50-day simple moving average is $35.76 and its 200-day simple moving average is $39.93.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. Malibu Boats had a positive return on equity of 18.01% and a negative net margin of 5.19%. The business had revenue of $203.42 million for the quarter, compared to analyst estimates of $205.83 million. As a group, equities analysts forecast that Malibu Boats will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In related news, Director Mark W. Lanigan purchased 20,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $33.43 per share, with a total value of $668,600.00. Following the completion of the acquisition, the director now owns 73,368 shares of the company’s stock, valued at approximately $2,452,692.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Hohimer Wealth Management LLC lifted its holdings in Malibu Boats by 3.0% in the fourth quarter. Hohimer Wealth Management LLC now owns 10,438 shares of the company’s stock valued at $572,000 after acquiring an additional 301 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Malibu Boats by 13.8% during the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after buying an additional 318 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Malibu Boats by 9.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock valued at $439,000 after buying an additional 836 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Malibu Boats during the 4th quarter valued at approximately $48,000. Finally, Raymond James & Associates lifted its position in shares of Malibu Boats by 17.5% during the 4th quarter. Raymond James & Associates now owns 12,077 shares of the company’s stock valued at $662,000 after buying an additional 1,795 shares in the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

About Malibu Boats

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.