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

Investment analysts at DA Davidson assumed coverage on shares of Malibu Boats (NASDAQ:MBUU) in a research note issued to investors on Tuesday. The firm set a “neutral” rating and a $33.00 price target on the stock. DA Davidson’s price target suggests a potential upside of 13.05% from the company’s current price.

MBUU has been the subject of a number of other research reports. Truist Financial reduced their target price on Malibu Boats from $38.00 to $28.00 and set a “hold” rating for the company in a report on Monday, April 14th. Robert W. Baird restated a “neutral” rating and set a $32.00 price target (down previously from $50.00) on shares of Malibu Boats in a research note on Friday, April 4th. Benchmark restated a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. B. Riley raised shares of Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Finally, KeyCorp cut shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research report on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.17.

Malibu Boats Trading Down 0.7%

Malibu Boats stock traded down $0.21 during midday trading on Tuesday, reaching $29.19. The stock had a trading volume of 17,574 shares, compared to its average volume of 205,542. The stock’s 50-day simple moving average is $29.22 and its 200 day simple moving average is $34.26. The stock has a market capitalization of $560.19 million, a PE ratio of -6.71 and a beta of 1.23. Malibu Boats has a twelve month low of $24.43 and a twelve month 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 announced its quarterly earnings data on Thursday, May 8th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.06. The firm had revenue of $228.66 million during the quarter, compared to analyst estimates of $226.44 million. Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. Malibu Boats’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. Analysts expect that Malibu Boats will post 1.69 EPS for the current year.

Institutional Investors Weigh In On Malibu Boats

A number of institutional investors have recently made changes to their positions in MBUU. Wellington Management Group LLP increased its stake in shares of Malibu Boats by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 1,601,959 shares of the company’s stock worth $49,148,000 after acquiring an additional 68,354 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Malibu Boats by 0.8% in the first quarter. Pzena Investment Management LLC now owns 1,534,839 shares of the company’s stock worth $47,089,000 after buying an additional 11,486 shares during the last quarter. Cooke & Bieler LP boosted its holdings in shares of Malibu Boats by 1.7% in the first quarter. Cooke & Bieler LP now owns 1,366,003 shares of the company’s stock worth $41,909,000 after buying an additional 22,343 shares during the last quarter. Vanguard Group Inc. raised its stake in Malibu Boats by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,216,269 shares of the company’s stock worth $37,315,000 after acquiring an additional 18,187 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Malibu Boats by 1.0% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 719,717 shares of the company’s stock valued at $27,054,000 after buying an additional 6,865 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.