Malibu Boats (NASDAQ:MBUU) Sees Unusually-High Trading Volume – What’s Next?

Malibu Boats, Inc. (NASDAQ:MBUU) shares saw unusually-high trading volume on Wednesday . Approximately 192,152 shares changed hands during mid-day trading, an increase of 41% from the previous session’s volume of 135,885 shares.The stock last traded at $37.13 and had previously closed at $36.91.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Robert W. Baird raised their target price on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com raised shares of Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. Truist Financial cut their price target on shares of Malibu Boats from $42.00 to $34.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research note on Friday, November 1st. Finally, KeyCorp cut their target price on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. One 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. According to MarketBeat.com, Malibu Boats has a consensus rating of “Hold” and a consensus target price of $42.71.

Malibu Boats Stock Performance

The stock has a market cap of $719.46 million, a price-to-earnings ratio of -9.17 and a beta of 1.32. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $39.59 and a 200-day simple moving average of $38.53.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.16. The business had revenue of $171.60 million for the quarter, compared to analyst estimates of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The firm’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Analysts forecast that Malibu Boats, Inc. will post 2.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Several institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC boosted its stake in Malibu Boats by 5.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock worth $60,362,000 after acquiring an additional 77,015 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Malibu Boats by 154.8% during the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after purchasing an additional 897,387 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Malibu Boats by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after buying an additional 111,699 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Malibu Boats by 94.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock valued at $29,560,000 after buying an additional 409,574 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Malibu Boats by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after buying an additional 43,769 shares during the period. Institutional investors and hedge funds 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.