Malibu Boats (NASDAQ:MBUU) Now Covered by DA Davidson

DA Davidson initiated coverage on shares of Malibu Boats (NASDAQ:MBUU) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $33.00 target price on the stock.

MBUU has been the topic of a number of other research reports. Truist Financial lowered their price objective on shares of Malibu Boats from $38.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Robert W. Baird restated a “neutral” rating and set a $32.00 price objective (down previously from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. Baird R W downgraded shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. B. Riley upgraded shares of Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.17.

Malibu Boats Trading Up 4.5%

Shares of NASDAQ MBUU opened at $30.73 on Tuesday. The firm’s 50 day moving average price is $29.22 and its 200-day moving average price is $34.24. The company has a market cap of $589.74 million, a PE ratio of -7.06 and a beta of 1.23. Malibu Boats has a 52-week low of $24.43 and a 52-week high of $47.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, May 8th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.06. The firm had revenue of $228.66 million for the quarter, compared to the consensus estimate of $226.44 million. Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. On average, equities research analysts expect that Malibu Boats will post 1.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC bought a new position in Malibu Boats in the fourth quarter worth approximately $38,000. Quarry LP bought a new position in Malibu Boats in the fourth quarter worth approximately $45,000. Strs Ohio bought a new position in Malibu Boats in the first quarter worth approximately $123,000. KLP Kapitalforvaltning AS bought a new position in Malibu Boats in the fourth quarter worth approximately $150,000. Finally, GAMMA Investing LLC raised its position in Malibu Boats by 2,154.4% in the first quarter. GAMMA Investing LLC now owns 4,847 shares of the company’s stock worth $158,000 after acquiring an additional 4,632 shares during the period. 91.35% of the stock is currently owned by institutional investors.

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.