Malibu Boats (NASDAQ:MBUU) Hits New 12-Month Low – Should You Sell?

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $29.00 and last traded at $29.38, with a volume of 8002 shares. The stock had previously closed at $29.57.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a report on Tuesday, February 4th. Truist Financial upped their price target on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. KeyCorp downgraded Malibu Boats from an “overweight” rating to a “sector weight” rating in a report on Thursday, March 20th. B. Riley upgraded Malibu Boats to a “hold” rating in a report on Wednesday, February 12th. Finally, StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.83.

Malibu Boats Stock Down 0.2 %

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 capitalization of $601.22 million, a PE ratio of -7.04 and a beta of 1.42. The stock’s fifty day simple moving average is $34.19 and its 200-day simple moving average is $38.07.

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

Institutional Trading of Malibu Boats

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in Malibu Boats by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after purchasing an additional 43,769 shares during the period. Meros Investment Management LP bought a new position in Malibu Boats during the third quarter valued at about $4,117,000. Barclays PLC increased its holdings in Malibu Boats by 92.6% during the third quarter. Barclays PLC now owns 46,919 shares of the company’s stock worth $1,820,000 after buying an additional 22,556 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Malibu Boats by 6.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 121,711 shares of the company’s stock worth $4,575,000 after acquiring an additional 7,186 shares during the period. Finally, Atom Investors LP boosted its stake in Malibu Boats by 219.0% in the third quarter. Atom Investors LP now owns 55,357 shares of the company’s stock valued at $2,148,000 after acquiring an additional 38,002 shares during the last quarter. 91.35% of the stock is owned by hedge funds and other 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.