Malibu Boats (NASDAQ:MBUU) Upgraded by DA Davidson to “Hold” Rating

DA Davidson upgraded shares of Malibu Boats (NASDAQ:MBUU) to a hold rating in a research report released on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. KeyCorp downgraded shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research report on Thursday, March 20th. Benchmark reiterated a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a report on Tuesday, February 4th. Truist Financial decreased their price objective on Malibu Boats from $38.00 to $28.00 and set a “hold” rating for the company in a report on Monday. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 target price (down from $50.00) on shares of Malibu Boats in a report on Friday, April 4th. Finally, B. Riley raised Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $38.17.

Malibu Boats Stock Down 0.6 %

Shares of MBUU opened at $27.04 on Monday. 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 has a 52 week low of $24.43 and a 52 week high of $47.82. The stock has a market capitalization of $530.93 million, a price-to-earnings ratio of -6.22 and a beta of 1.27. The stock has a fifty day moving average of $31.89 and a 200-day moving average of $37.20.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, January 30th. The company reported $0.20 EPS for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts anticipate that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Several institutional investors and hedge funds have recently made changes to their positions in MBUU. Exchange Traded Concepts LLC lifted its stake in Malibu Boats by 4.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock valued at $300,000 after buying an additional 311 shares during the period. Central Pacific Bank Trust Division increased its stake in shares of Malibu Boats by 11.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after acquiring an additional 368 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Malibu Boats by 0.7% during the 4th quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company’s stock valued at $4,627,000 after acquiring an additional 815 shares during the period. Heck Capital Advisors LLC bought a new position in Malibu Boats during the fourth quarter worth $38,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Malibu Boats by 10.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,111 shares of the company’s stock worth $456,000 after purchasing an additional 1,103 shares during the period. 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.