Malibu Boats (NASDAQ:MBUU) Sets New 12-Month Low at $33.77

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) hit a new 52-week low on Monday . The stock traded as low as $33.77 and last traded at $33.78, with a volume of 261158 shares traded. The stock had previously closed at $34.48.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MBUU. Truist Financial reduced their target price on Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Raymond James downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. Robert W. Baird reissued an “outperform” rating and issued a $54.00 price objective on shares of Malibu Boats in a research note on Friday, January 19th. KeyCorp reduced their price objective on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Finally, StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Malibu Boats currently has an average rating of “Hold” and a consensus target price of $49.00.

Malibu Boats Stock Down 0.2 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82. The company has a market cap of $694.86 million, a price-to-earnings ratio of 10.90 and a beta of 1.37. The business has a 50-day simple moving average of $41.29 and a 200-day simple moving average of $46.01.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The business had revenue of $211.07 million for the quarter, compared to analyst estimates of $219.64 million. During the same quarter last year, the company earned $1.78 EPS. The business’s quarterly revenue was down 37.7% on a year-over-year basis. On average, equities analysts anticipate that Malibu Boats, Inc. will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In related news, insider Michael K. Hooks bought 12,500 shares of the stock in a transaction on Thursday, February 22nd. The shares were bought at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the purchase, the insider now owns 12,500 shares of the company’s stock, valued at approximately $535,250. The acquisition 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.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors have recently made changes to their positions in the stock. Cooke & Bieler LP increased its stake in Malibu Boats by 35.2% in the fourth quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock valued at $50,476,000 after purchasing an additional 239,707 shares during the last quarter. Invesco Ltd. boosted its position in shares of Malibu Boats by 272.7% in the third quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock worth $6,231,000 after buying an additional 93,004 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its holdings in Malibu Boats by 29.3% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 318,826 shares of the company’s stock valued at $15,629,000 after purchasing an additional 72,330 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Malibu Boats by 57.8% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 196,943 shares of the company’s stock valued at $9,654,000 after purchasing an additional 72,120 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its stake in Malibu Boats by 27.1% during the third quarter. Epoch Investment Partners Inc. now owns 267,168 shares of the company’s stock valued at $13,097,000 after buying an additional 56,968 shares in the last quarter. 91.35% of the stock is 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.