Malibu Boats (NASDAQ:MBUU) Shares Down 6% – Time to Sell?

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price traded down 6% on Monday . The company traded as low as $36.12 and last traded at $35.99. 77,779 shares were traded during trading, a decline of 54% from the average session volume of 170,166 shares. The stock had previously closed at $38.29.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MBUU shares. KeyCorp reduced their price target on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird raised their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. DA Davidson lowered Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Friday, November 1st. StockNews.com raised Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. Finally, Truist Financial boosted 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $42.83.

Malibu Boats Price Performance

The business has a fifty day moving average price of $39.00 and a 200 day moving average price of $38.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45. The company has a market capitalization of $704.88 million, a price-to-earnings ratio of -8.25 and a beta of 1.33.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, research analysts expect that Malibu Boats, Inc. will post 2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in Malibu Boats by 5.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 63,880 shares of the company’s stock valued at $2,238,000 after purchasing an additional 3,288 shares during the period. Bank of Montreal Can raised its position in Malibu Boats by 10.4% during the second quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock valued at $442,000 after buying an additional 1,170 shares during the period. AQR Capital Management LLC raised its position in Malibu Boats by 267.9% during the second quarter. AQR Capital Management LLC now owns 88,294 shares of the company’s stock valued at $3,094,000 after buying an additional 64,297 shares during the period. Truist Financial Corp lifted its stake in Malibu Boats by 35.6% in the 2nd quarter. Truist Financial Corp now owns 8,448 shares of the company’s stock worth $296,000 after acquiring an additional 2,219 shares in the last quarter. 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 worth $202,000 after acquiring an additional 1,252 shares during the period. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.