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

DA Davidson began coverage on shares of Malibu Boats (NASDAQ:MBUU - Get Free Report) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $33.00 price target on the stock. DA Davidson's target price would indicate a potential upside of 4.83% from the company's current price.

MBUU has been the subject of a number of other research reports. Robert W. Baird reiterated a "neutral" rating and issued a $32.00 price target (down previously from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. B. Riley upgraded Malibu Boats to a "hold" rating in a research report on Wednesday, February 12th. Wall Street Zen upgraded Malibu Boats from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. 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 research report on Monday, April 14th. Finally, Baird R W lowered Malibu Boats from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $36.17.

Malibu Boats Trading Up 1.0%

Shares of NASDAQ:MBUU traded up $0.30 during midday trading on Tuesday, reaching $31.48. The company had a trading volume of 98,939 shares, compared to its average volume of 204,941. 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 1-year low of $24.43 and a 1-year high of $47.82. The firm has a market cap of $604.13 million, a price-to-earnings ratio of -7.24 and a beta of 1.15. The company has a fifty day simple moving average of $29.29 and a two-hundred day simple moving average of $34.09.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.06. Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. The business had revenue of $228.66 million during the quarter, compared to analyst estimates of $226.44 million. During the same quarter last year, the company posted $0.63 EPS. Malibu Boats's revenue for the quarter was up 12.4% on a year-over-year basis. Research analysts predict that Malibu Boats will post 1.69 earnings per share for the current year.

Institutional Investors Weigh In On Malibu Boats

Several institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Malibu Boats during the 1st quarter valued at about $123,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Malibu Boats by 8.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 57,132 shares of the company's stock valued at $1,753,000 after buying an additional 4,496 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Malibu Boats by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company's stock valued at $356,000 after buying an additional 491 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Malibu Boats by 25.3% during the 1st quarter. AQR Capital Management LLC now owns 11,815 shares of the company's stock valued at $362,000 after buying an additional 2,389 shares during the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of Malibu Boats by 16.5% during the 1st quarter. Vident Advisory LLC now owns 13,649 shares of the company's stock valued at $419,000 after buying an additional 1,934 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.