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

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

A number of other research firms have also weighed in on MBUU. KeyCorp lowered shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a report on Thursday, March 20th. Baird R W downgraded Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Benchmark reaffirmed a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research report on Tuesday, February 4th. Truist Financial decreased their price target on Malibu Boats from $38.00 to $28.00 and set a “hold” rating for the company in a report on Monday. Finally, B. Riley upgraded Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Malibu Boats currently has a consensus rating of “Hold” and a consensus target price of $38.17.

Malibu Boats Trading Down 0.6 %

NASDAQ MBUU opened at $27.04 on Monday. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. Malibu Boats has a 52 week low of $24.43 and a 52 week high of $47.82. The business has a 50 day moving average price of $31.89 and a 200-day moving average price of $37.20. The company has a market cap of $530.93 million, a price-to-earnings ratio of -6.22 and a beta of 1.27.

Malibu Boats (NASDAQ:MBUU) last posted 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, equities analysts expect that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MBUU. Heck Capital Advisors LLC bought a new stake in shares of Malibu Boats during the 4th quarter worth $38,000. Quarry LP purchased a new stake in Malibu Boats during the fourth quarter worth about $45,000. Central Pacific Bank Trust Division raised its position 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 acquiring an additional 368 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Malibu Boats in the fourth quarter valued at about $150,000. Finally, GAMMA Investing LLC grew its position in shares of Malibu Boats by 2,154.4% during 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 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.