Malibu Boats (NASDAQ:MBUU) Stock Price Down 6% - Here's Why

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report)'s stock price dropped 6% during mid-day trading on Monday . The company traded as low as $36.12 and last traded at $35.99. Approximately 77,779 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 170,166 shares. The stock had previously closed at $38.29.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MBUU shares. KeyCorp decreased their price objective on Malibu Boats from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Robert W. Baird increased their price objective on shares of Malibu Boats from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. StockNews.com raised shares of Malibu Boats to a "sell" rating in a research note on Saturday, November 2nd. Truist Financial upped their target price on shares of Malibu Boats from $34.00 to $38.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Finally, Benchmark reiterated a "buy" rating and issued a $44.00 price target on shares of Malibu Boats in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $42.83.

Malibu Boats Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The company has a market capitalization of $749.86 million, a P/E ratio of -8.78 and a beta of 1.33. The firm's fifty day moving average is $38.52 and its 200 day moving average is $38.79.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its earnings results 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 negative net margin of 12.09% and a positive return on equity of 1.04%. As a group, analysts predict that Malibu Boats, Inc. will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in Malibu Boats by 8.2% in 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. Meros Investment Management LP purchased a new stake in shares of Malibu Boats in the third quarter valued at approximately $4,117,000. Empowered Funds LLC grew its stake in Malibu Boats by 38.8% in the third quarter. Empowered Funds LLC now owns 66,606 shares of the company's stock worth $2,585,000 after purchasing an additional 18,636 shares in the last quarter. Barclays PLC raised its position in Malibu Boats by 92.6% during the 3rd quarter. Barclays PLC now owns 46,919 shares of the company's stock valued at $1,820,000 after purchasing an additional 22,556 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Malibu Boats by 37.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company's stock worth $4,445,000 after buying an additional 31,026 shares during the period. Hedge funds and other institutional investors 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.