Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report)'s stock price 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 changing hands.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on MBUU. Truist Financial lowered their price objective 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. Benchmark reiterated a "buy" rating and issued a $44.00 price target on shares of Malibu Boats in a research report on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a "sell" rating in a research report on Saturday, November 2nd. DA Davidson downgraded shares of 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. Finally, Robert W. Baird increased their price target on Malibu Boats from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $42.71.
Read Our Latest Stock Analysis on Malibu Boats
Malibu Boats Stock Performance
The firm's 50 day simple moving average is $39.92 and its 200 day simple moving average is $38.43. The firm has a market cap of $701.66 million, a PE ratio of -8.94 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.
Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.16. The company had revenue of $171.60 million for 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%. The firm's revenue for the quarter was down 32.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.07 earnings per share. On average, research analysts forecast that Malibu Boats, Inc. will post 2.01 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Malibu Boats by 154.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company's stock worth $57,321,000 after buying an additional 897,387 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Malibu Boats by 94.4% in the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company's stock worth $29,560,000 after acquiring an additional 409,574 shares in the last quarter. Janus Henderson Group PLC increased its stake in Malibu Boats by 1,267.7% during the third quarter. Janus Henderson Group PLC now owns 238,576 shares of the company's stock worth $9,259,000 after acquiring an additional 221,133 shares during the last quarter. Lodge Hill Capital LLC purchased a new stake in Malibu Boats during the second quarter valued at approximately $4,866,000. Finally, Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 111,699 shares during the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.
About Malibu Boats
(
Get Free Report)
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.
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