Malibu Boats (NASDAQ:MBUU) Downgraded by DA Davidson

DA Davidson lowered shares of Malibu Boats (NASDAQ:MBUU) from a buy rating to a neutral rating in a research report report published on Wednesday, Marketbeat reports. They currently have $45.00 price target on the stock.

MBUU has been the subject of several other reports. KeyCorp cut their target price on shares of Malibu Boats from $50.00 to $38.00 and set an overweight rating for the company in a research note on Friday, May 3rd. Benchmark started coverage on Malibu Boats in a research note on Wednesday, May 22nd. They set a buy rating and a $44.00 price target for the company. StockNews.com cut Malibu Boats from a hold rating to a sell rating in a report on Tuesday, July 9th. Robert W. Baird cut their target price on shares of Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a report on Friday, May 3rd. Finally, B. Riley reduced their price target on shares of Malibu Boats from $39.00 to $35.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Malibu Boats presently has a consensus rating of Hold and a consensus price target of $40.00.

Malibu Boats Price Performance

NASDAQ:MBUU opened at $39.16 on Wednesday. The stock has a market cap of $800.43 million, a PE ratio of -14.67 and a beta of 1.40. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $35.76 and its two-hundred day simple moving average is $39.93. Malibu Boats has a 52 week low of $30.20 and a 52 week high of $60.72.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. Malibu Boats had a positive return on equity of 18.01% and a negative net margin of 5.19%. The company had revenue of $203.42 million for the quarter, compared to analysts’ expectations of $205.83 million. As a group, analysts forecast that Malibu Boats will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In other news, Director Mark W. Lanigan bought 20,000 shares of the stock in a transaction dated Monday, May 6th. The stock was purchased at an average price of $33.43 per share, for a total transaction of $668,600.00. Following the acquisition, the director now owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.62% of the company’s stock.

Institutional Trading of Malibu Boats

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Malibu Boats by 2.7% in the third quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock worth $66,926,000 after purchasing an additional 35,474 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Malibu Boats by 17.5% in the 4th quarter. Raymond James & Associates now owns 12,077 shares of the company’s stock worth $662,000 after buying an additional 1,795 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of Malibu Boats by 828.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,686 shares of the company’s stock worth $2,285,000 after buying an additional 37,197 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Malibu Boats during the fourth quarter valued at $48,000. Finally, Kendall Capital Management raised its holdings in shares of Malibu Boats by 56.3% in the fourth quarter. Kendall Capital Management now owns 10,283 shares of the company’s stock valued at $564,000 after acquiring an additional 3,705 shares in the last quarter. 91.35% of the stock is currently owned by 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.