Malibu Boats (NASDAQ:MBUU) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Malibu Boats, Inc. (NASDAQ:MBUU) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $38.45 and traded as low as $34.68. Malibu Boats shares last traded at $35.21, with a volume of 134,816 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MBUU shares. KeyCorp decreased their target price 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. DA Davidson cut Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research report on Friday, November 1st. Robert W. Baird boosted their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark restated a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. Finally, Truist Financial decreased their price target on Malibu Boats from $42.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. One 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $42.71.

Malibu Boats Stock Performance

The company has a market capitalization of $700.06 million, a P/E ratio of -8.92 and a beta of 1.32. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. The business has a 50 day moving average of $39.75 and a 200-day moving average of $38.45.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.16. The company had revenue of $171.60 million during the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. Malibu Boats’s quarterly revenue was down 32.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. On average, sell-side analysts predict that Malibu Boats, Inc. will post 2.01 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

Large investors have recently modified their holdings of the business. Studio Investment Management LLC raised its holdings 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. nVerses Capital LLC purchased a new position in shares of Malibu Boats during the third quarter valued at about $74,000. Central Pacific Bank Trust Division raised its stake in Malibu Boats by 11.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after buying an additional 368 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Malibu Boats by 43.1% in the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock worth $179,000 after buying an additional 1,539 shares during the period. Finally, SG Americas Securities LLC boosted its position in Malibu Boats by 31.6% during the 3rd quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock valued at $202,000 after acquiring an additional 1,252 shares in the last quarter. 91.35% of the stock is owned by 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.