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

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

Several other research firms have also issued reports on MBUU. B. Riley upgraded shares of Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. 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. 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 report on Friday, April 4th. KeyCorp downgraded shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a research report on Thursday, March 20th. Finally, Baird R W lowered shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $38.17.

Malibu Boats Trading Down 0.6 %

Shares of NASDAQ:MBUU opened at $27.04 on Monday. The company has a 50 day moving average of $31.89 and a 200-day moving average of $37.20. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. The firm has a market cap of $530.93 million, a P/E ratio of -6.22 and a beta of 1.27. Malibu Boats has a twelve month low of $24.43 and a twelve month high of $47.82.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (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, 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 the company. Heck Capital Advisors LLC bought a new stake in Malibu Boats during the fourth quarter worth about $38,000. Quarry LP bought a new position in Malibu Boats in the 4th quarter valued at $45,000. Central Pacific Bank Trust Division boosted its stake in Malibu Boats by 11.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after purchasing an additional 368 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Malibu Boats during the fourth quarter worth $150,000. Finally, GAMMA Investing LLC increased its position in 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 acquiring an additional 4,632 shares in the last quarter. Institutional investors and hedge funds 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.