Malibu Boats (NASDAQ:MBUU) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $38.75 and traded as low as $32.89. Malibu Boats shares last traded at $33.38, with a volume of 164,879 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. B. Riley raised Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. Truist Financial upped their price objective on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, January 31st. StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Finally, KeyCorp lowered their price objective on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.83.

Malibu Boats Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The stock has a fifty day moving average of $36.49 and a 200 day moving average of $38.75. The company has a market capitalization of $655.42 million, a P/E ratio of -7.67 and a beta of 1.33.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. As a group, equities research analysts anticipate that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC boosted its position in shares of Malibu Boats by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock valued at $300,000 after buying an additional 311 shares during the period. Central Pacific Bank Trust Division raised its stake in shares of Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after acquiring an additional 368 shares in the last quarter. Studio Investment Management LLC raised its stake in shares of Malibu Boats by 53.7% during the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after acquiring an additional 380 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Malibu Boats by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company’s stock valued at $4,627,000 after acquiring an additional 815 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of Malibu Boats during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.