Malibu Boats (NASDAQ:MBUU) Shares Gap Down - Here's Why

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $30.81, but opened at $29.19. Malibu Boats shares last traded at $30.00, with a volume of 12,291 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MBUU. StockNews.com raised Malibu Boats from a "sell" rating to a "hold" rating in a report on Tuesday, March 11th. Truist Financial lifted their price objective on Malibu Boats from $34.00 to $38.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. KeyCorp downgraded Malibu Boats from an "overweight" rating to a "sector weight" rating in a research report on Thursday. Benchmark reissued a "buy" rating and issued a $44.00 target price on shares of Malibu Boats in a report on Tuesday, February 4th. Finally, B. Riley raised shares of Malibu Boats to a "hold" rating in a research note on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $42.83.

Malibu Boats Stock Up 2.9 %

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 fifty day moving average of $34.91 and a two-hundred day moving average of $38.37. The company has a market cap of $597.10 million, a PE ratio of -6.99 and a beta of 1.42.

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Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate 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 anticipate that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Institutional Trading of Malibu Boats

Institutional investors have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in shares of Malibu Boats in the fourth quarter worth approximately $38,000. Quarry LP purchased a new stake in Malibu Boats in the fourth quarter worth $45,000. Central Pacific Bank Trust Division lifted its position in shares of Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company's stock worth $136,000 after purchasing an additional 368 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Malibu Boats during the fourth quarter valued at $150,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Malibu Boats during the fourth quarter valued at $207,000. 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.