Malibu Boats (NASDAQ:MBUU) Price Target Cut to $31.00 by Analysts at DA Davidson

Key Points

• DA Davidson has reduced Malibu Boats' (NASDAQ: MBUU) price target from $33.00 to $31.00, indicating a potential downside of 6.13% from its current stock price.
• Zacks Research has downgraded the stock from a "hold" rating to a "strong sell" rating, with an average rating of "Hold" and a target price of $36.00 among analysts.
• Malibu Boats recently reported quarterly earnings of $0.42 per share, missing expectations, while revenues rose by 30.4% year-over-year to $207.04 million.

Malibu Boats (NASDAQ:MBUU - Free Report) had its price target cut by DA Davidson from $33.00 to $31.00 in a research note published on Monday morning, MarketBeat.com reports. They currently have a neutral rating on the stock.

Separately, Zacks Research lowered Malibu Boats from a "hold" rating to a "strong sell" rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Malibu Boats presently has a consensus rating of "Hold" and an average price target of $36.00.

Malibu Boats Price Performance

Shares of MBUU traded down $1.20 during midday trading on Monday, reaching $32.66. The stock had a trading volume of 123,578 shares, compared to its average volume of 228,955. Malibu Boats has a 52 week low of $24.42 and a 52 week high of $47.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.63 and a quick ratio of 0.58. The firm's 50 day moving average price is $34.49 and its 200-day moving average price is $31.86. The company has a market capitalization of $628.71 million, a P/E ratio of 42.42 and a beta of 1.20.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its earnings results on Thursday, August 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). The company had revenue of $207.04 million for the quarter, compared to analyst estimates of $195.28 million. Malibu Boats had a return on equity of 4.93% and a net margin of 1.84%.The firm's revenue for the quarter was up 30.4% on a year-over-year basis. During the same period last year, the firm earned ($0.39) earnings per share. On average, analysts forecast that Malibu Boats will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MBUU. Twin Lions Management LLC raised its position in Malibu Boats by 60.2% during the second quarter. Twin Lions Management LLC now owns 1,080,301 shares of the company's stock valued at $33,857,000 after buying an additional 405,838 shares during the period. Pzena Investment Management LLC raised its position in Malibu Boats by 8.9% during the second quarter. Pzena Investment Management LLC now owns 1,670,977 shares of the company's stock valued at $52,368,000 after buying an additional 136,138 shares during the period. Lodge Hill Capital LLC raised its position in Malibu Boats by 23.0% during the first quarter. Lodge Hill Capital LLC now owns 652,674 shares of the company's stock valued at $20,024,000 after buying an additional 122,160 shares during the period. Bank of America Corp DE raised its position in Malibu Boats by 31.5% during the second quarter. Bank of America Corp DE now owns 361,357 shares of the company's stock valued at $11,325,000 after buying an additional 86,526 shares during the period. Finally, Tybourne Capital Management HK Ltd. acquired a new position in Malibu Boats during the fourth quarter valued at $3,006,000. 91.35% of the stock is owned by institutional investors and hedge funds.

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.