DA Davidson Cuts Malibu Boats (NASDAQ:MBUU) Price Target to $31.00

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 - Get Free Report) had its target price decreased by equities research analysts at DA Davidson from $33.00 to $31.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. DA Davidson's target price would suggest a potential downside of 6.13% from the company's current price.

Separately, Zacks Research lowered Malibu Boats from a "hold" rating to a "strong sell" rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $36.00.

Malibu Boats Trading Down 1.9%

Shares of NASDAQ MBUU opened at $33.03 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.58 and a current ratio of 1.63. The business's 50 day moving average price is $34.60 and its 200-day moving average price is $31.88. Malibu Boats has a fifty-two week low of $24.42 and a fifty-two week high of $47.82. The company has a market cap of $635.73 million, a price-to-earnings ratio of 42.89 and a beta of 1.20.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). Malibu Boats had a return on equity of 4.93% and a net margin of 1.84%.The business had revenue of $207.04 million during the quarter, compared to analysts' expectations of $195.28 million. During the same quarter in the previous year, the company posted ($0.39) earnings per share. The company's quarterly revenue was up 30.4% compared to the same quarter last year. On average, sell-side analysts expect that Malibu Boats will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Malibu Boats by 532.3% in the second quarter. GAMMA Investing LLC now owns 999 shares of the company's stock valued at $31,000 after purchasing an additional 841 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Malibu Boats in the fourth quarter valued at about $38,000. BNP Paribas Financial Markets raised its holdings in shares of Malibu Boats by 43.3% in the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company's stock valued at $67,000 after buying an additional 643 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Malibu Boats by 346.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company's stock valued at $73,000 after buying an additional 1,801 shares during the last quarter. Finally, Strs Ohio purchased a new position in Malibu Boats during the first quarter worth about $123,000. 91.35% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.