Malibu Boats (NASDAQ:MBUU) Sets New 1-Year Low - Here's Why

Shares of Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $29.74 and last traded at $29.73, with a volume of 39621 shares traded. The stock had previously closed at $30.49.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MBUU shares. Truist Financial lifted their price target on Malibu Boats from $34.00 to $38.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Benchmark restated a "buy" rating and set a $44.00 price target on shares of Malibu Boats in a research report on Tuesday, February 4th. StockNews.com lowered Malibu Boats from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. B. Riley upgraded Malibu Boats to a "hold" rating in a research report on Wednesday, February 12th. Finally, KeyCorp dropped their price target 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $42.83.

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Malibu Boats Stock Up 0.9 %

The stock has a 50 day simple moving average of $35.98 and a 200-day simple moving average of $38.72. The firm has a market cap of $642.85 million, a PE ratio of -7.53 and a beta of 1.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings data 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%. Sell-side analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MBUU. Exchange Traded Concepts LLC raised its position in Malibu Boats by 4.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company's stock worth $300,000 after buying an additional 311 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of 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 acquiring an additional 368 shares during the period. 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 purchasing an additional 380 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Malibu Boats by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company's stock valued at $4,627,000 after purchasing an additional 815 shares during the period. Finally, Heck Capital Advisors LLC purchased a new stake in Malibu Boats in the fourth quarter worth approximately $38,000. 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.