Malibu Boats (NASDAQ:MBUU) Stock Rating Lowered by DA Davidson

DA Davidson cut shares of Malibu Boats (NASDAQ:MBUU - Free Report) from a buy rating to a neutral rating in a report published on Friday morning, MarketBeat reports. The firm currently has $45.00 price target on the stock.

A number of other research analysts also recently weighed in on MBUU. StockNews.com downgraded shares of Malibu Boats from a "hold" rating to a "sell" rating in a research report on Friday, August 30th. Truist Financial reaffirmed a "hold" rating and issued a $32.00 target price on shares of Malibu Boats in a research report on Monday, July 8th. Finally, B. Riley dropped their target price on Malibu Boats from $39.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Malibu Boats has an average rating of "Hold" and a consensus price target of $44.57.

Malibu Boats Stock Performance

NASDAQ MBUU traded down $0.95 on Friday, reaching $43.93. The company had a trading volume of 392,848 shares, compared to its average volume of 255,583. The company's fifty day moving average is $38.99 and its 200-day moving average is $36.60. The firm has a market capitalization of $879.04 million, a price-to-earnings ratio of -16.08 and a beta of 1.38. Malibu Boats has a 1-year low of $30.20 and a 1-year high of $56.03.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly earnings data on Thursday, August 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.07). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The firm had revenue of $158.70 million for the quarter, compared to the consensus estimate of $157.54 million. During the same quarter in the previous year, the business posted $2.96 earnings per share. The firm's quarterly revenue was down 57.4% compared to the same quarter last year. On average, research analysts forecast that Malibu Boats will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Malibu Boats

Large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its holdings in shares of Malibu Boats by 7.2% in the first quarter. Bessemer Group Inc. now owns 307,486 shares of the company's stock valued at $13,307,000 after purchasing an additional 20,700 shares during the last quarter. PAX Financial Group LLC acquired a new position in Malibu Boats in the 1st quarter valued at about $579,000. Assenagon Asset Management S.A. bought a new position in Malibu Boats in the 2nd quarter valued at about $3,667,000. Lord Abbett & CO. LLC lifted its position in Malibu Boats by 231.4% during the first quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company's stock worth $13,535,000 after acquiring an additional 218,378 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Malibu Boats by 54.8% during the first quarter. BNP Paribas Financial Markets now owns 19,453 shares of the company's stock worth $842,000 after acquiring an additional 6,888 shares during the period. 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.