DA Davidson Upgrades Malibu Boats (NASDAQ:MBUU) to Hold

Malibu Boats (NASDAQ:MBUU) was upgraded by investment analysts at DA Davidson to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also commented on MBUU. Truist Financial dropped their target price on Malibu Boats from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Monday. Robert W. Baird reiterated a “neutral” rating and issued a $32.00 price objective (down previously from $50.00) on shares of Malibu Boats in a report on Friday, April 4th. B. Riley upgraded Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Baird R W lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, KeyCorp downgraded shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research report on Thursday, March 20th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.17.

Malibu Boats Stock Performance

NASDAQ:MBUU opened at $26.64 on Monday. The firm has a market capitalization of $523.08 million, a price-to-earnings ratio of -6.12 and a beta of 1.27. Malibu Boats has a 1-year low of $24.43 and a 1-year high of $47.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45. The company’s 50-day moving average is $31.64 and its two-hundred day moving average is $37.13.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, January 30th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. Analysts forecast that Malibu Boats will post 1.69 EPS for the current year.

Institutional Trading of Malibu Boats

A number of hedge funds have recently made changes to their positions in MBUU. Heck Capital Advisors LLC purchased a new position in shares of Malibu Boats during the 4th quarter valued at approximately $38,000. Quarry LP bought a new position in Malibu Boats during the 4th quarter valued at $45,000. Central Pacific Bank Trust Division grew its holdings in Malibu Boats by 11.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after acquiring an additional 368 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Malibu Boats in the 4th quarter worth about $150,000. Finally, GAMMA Investing LLC raised its stake in shares of Malibu Boats by 2,154.4% in the 1st quarter. GAMMA Investing LLC now owns 4,847 shares of the company’s stock valued at $158,000 after purchasing an additional 4,632 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.