DA Davidson Lowers Malibu Boats (NASDAQ:MBUU) to Neutral

DA Davidson downgraded shares of Malibu Boats (NASDAQ:MBUU) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage currently has $45.00 target price on the stock.

Several other analysts also recently commented on the stock. KeyCorp cut their price objective on shares of Malibu Boats from $50.00 to $38.00 and set an overweight rating on the stock in a research report on Friday, May 3rd. Raymond James downgraded shares of Malibu Boats from an outperform rating to a market perform rating in a research report on Monday, April 15th. Benchmark initiated coverage on shares of Malibu Boats in a research report on Wednesday, May 22nd. They set a buy rating and a $44.00 price objective on the stock. B. Riley cut their price objective on shares of Malibu Boats from $39.00 to $35.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Finally, StockNews.com downgraded shares of Malibu Boats from a hold rating to a sell rating in a research report on Tuesday, July 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $40.00.

Malibu Boats Stock Up 5.1 %

NASDAQ:MBUU opened at $39.16 on Wednesday. The firm’s 50-day moving average price is $35.76 and its 200-day moving average price is $39.93. The company has a market capitalization of $800.43 million, a PE ratio of -14.67 and a beta of 1.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.67 and a quick ratio of 0.66. Malibu Boats has a 1-year low of $30.20 and a 1-year high of $60.72.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The firm had revenue of $203.42 million for the quarter, compared to the consensus estimate of $205.83 million. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. On average, equities analysts predict that Malibu Boats will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In other Malibu Boats news, Director Mark W. Lanigan acquired 20,000 shares of the stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $33.43 per share, for a total transaction of $668,600.00. Following the purchase, the director now directly owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Malibu Boats by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock worth $66,926,000 after purchasing an additional 35,474 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Malibu Boats by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock worth $54,765,000 after purchasing an additional 38,450 shares during the period. Cooke & Bieler LP lifted its stake in shares of Malibu Boats by 35.2% in the 4th quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock worth $50,476,000 after purchasing an additional 239,707 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Malibu Boats by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 435,541 shares of the company’s stock worth $23,876,000 after purchasing an additional 7,844 shares during the period. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Malibu Boats by 231.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock worth $13,535,000 after purchasing an additional 218,378 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.