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

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $25.10 and last traded at $28.75, with a volume of 282 shares. The stock had previously closed at $28.51.

Analyst Ratings Changes

A number of brokerages recently weighed in on MBUU. Benchmark reaffirmed a "buy" rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. Truist Financial increased their price target on Malibu Boats from $34.00 to $38.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Baird R W lowered Malibu Boats from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. B. Riley upgraded Malibu Boats to a "hold" rating in a research note on Wednesday, February 12th. Finally, KeyCorp cut Malibu Boats from an "overweight" rating to a "sector weight" rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $39.83.

Malibu Boats Stock Performance

The stock has a market cap of $534.27 million, a P/E ratio of -6.26 and a beta of 1.27. 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 fifty day moving average of $32.12 and a 200 day moving average of $37.29.

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Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates 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%. On average, equities analysts predict that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Twin Lions Management LLC acquired a new stake in Malibu Boats during the fourth quarter valued at approximately $19,807,000. Bank of New York Mellon Corp lifted its position in shares of Malibu Boats by 370.5% during the 4th quarter. Bank of New York Mellon Corp now owns 440,829 shares of the company's stock valued at $16,571,000 after acquiring an additional 347,144 shares during the last quarter. Lodge Hill Capital LLC lifted its position in shares of Malibu Boats by 74.6% during the 4th quarter. Lodge Hill Capital LLC now owns 530,514 shares of the company's stock valued at $19,942,000 after acquiring an additional 226,650 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Malibu Boats during the 4th quarter worth $8,221,000. Finally, Schroder Investment Management Group acquired a new position in shares of Malibu Boats in the 4th quarter worth $6,888,000. 91.35% of the stock is owned by institutional investors and hedge funds.

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.