DA Davidson Reiterates “Buy” Rating for Malibu Boats (NASDAQ:MBUU)

Malibu Boats (NASDAQ:MBUU)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $45.00 price objective on the stock. DA Davidson’s target price indicates a potential upside of 22.22% from the company’s current price.

Several other research firms also recently weighed in on MBUU. Benchmark began coverage on shares of Malibu Boats in a research report on Wednesday, May 22nd. They set a “buy” rating and a $44.00 price target for the company. StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. B. Riley dropped their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Truist Financial reissued a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.00.

Malibu Boats Stock Up 4.1 %

MBUU stock opened at $36.82 on Tuesday. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $56.03. The firm has a market cap of $752.60 million, a P/E ratio of -13.79 and a beta of 1.38. The company’s 50-day simple moving average is $35.35 and its 200-day simple moving average is $36.96.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The business had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $157.54 million. During the same quarter last year, the firm earned $2.96 earnings per share. The firm’s quarterly revenue was down 57.4% compared to the same quarter last year. On average, analysts anticipate that Malibu Boats will post 1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors and hedge funds have recently bought and sold shares of the company. Truist Financial Corp grew its position in Malibu Boats by 35.6% in the second quarter. Truist Financial Corp now owns 8,448 shares of the company’s stock worth $296,000 after acquiring an additional 2,219 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Malibu Boats by 94.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock valued at $29,560,000 after buying an additional 409,574 shares during the period. AQR Capital Management LLC lifted its position in Malibu Boats by 267.9% in the second quarter. AQR Capital Management LLC now owns 88,294 shares of the company’s stock valued at $3,094,000 after buying an additional 64,297 shares during the last quarter. Bank of Montreal Can boosted its stake in Malibu Boats by 10.4% during the second quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock worth $442,000 after buying an additional 1,170 shares during the period. Finally, Lodge Hill Capital LLC purchased a new position in Malibu Boats during the second quarter worth about $4,866,000. 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.