Malibu Boats (NASDAQ:MBUU) Sets New 52-Week Low – What’s Next?

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $29.74 and last traded at $29.73, with a volume of 39621 shares trading hands. The stock had previously closed at $30.49.

Analyst Upgrades and Downgrades

Several research analysts have commented on MBUU shares. KeyCorp cut their target price on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. B. Riley raised shares of Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Truist Financial raised their price target on shares of Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a report on Friday, January 31st. Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a report on Tuesday, February 4th. Finally, StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.83.

Malibu Boats Stock Up 0.9 %

The stock’s fifty day moving average price is $36.05 and its 200 day moving average price is $38.67. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. The stock has a market cap of $642.85 million, a P/E ratio of -7.53 and a beta of 1.33.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.20 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, research analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MBUU. Geode Capital Management LLC lifted its stake in Malibu Boats by 8.2% in the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after purchasing an additional 43,769 shares during the last quarter. Meros Investment Management LP bought a new stake in shares of Malibu Boats in the 3rd quarter valued at about $4,117,000. Empowered Funds LLC boosted its holdings in Malibu Boats by 38.8% during the 3rd quarter. Empowered Funds LLC now owns 66,606 shares of the company’s stock valued at $2,585,000 after acquiring an additional 18,636 shares during the period. Barclays PLC increased its stake in Malibu Boats by 92.6% in the 3rd quarter. Barclays PLC now owns 46,919 shares of the company’s stock worth $1,820,000 after purchasing an additional 22,556 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Malibu Boats by 6.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 121,711 shares of the company’s stock worth $4,575,000 after purchasing an additional 7,186 shares during the period. 91.35% of the stock is owned by hedge funds and other institutional investors.

About Malibu Boats

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.