Malibu Boats (NASDAQ:MBUU) Sets New 12-Month Low – Here’s What Happened

Malibu Boats, Inc. (NASDAQ:MBUU) shares hit a new 52-week low during mid-day trading 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.

Analysts Set New Price Targets

Several equities analysts recently commented on MBUU shares. KeyCorp cut their target price on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Benchmark reissued a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a report on Tuesday, February 4th. StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Monday. Truist Financial lifted their price target on shares of Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a report on Friday, January 31st. Finally, B. Riley upgraded shares of Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Malibu Boats presently has a consensus rating of “Hold” and a consensus target price of $42.83.

Malibu Boats Price Performance

The stock has a fifty day moving average of $36.27 and a 200-day moving average of $38.76. The firm has a market capitalization of $608.98 million, a P/E ratio of -7.13 and a beta of 1.33. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share 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%. Equities analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in shares of Malibu Boats by 4.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock valued at $300,000 after acquiring an additional 311 shares during the last quarter. Central Pacific Bank Trust Division grew its stake 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 period. Studio Investment Management LLC increased its holdings in Malibu Boats by 53.7% in 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 stake in Malibu Boats by 0.7% in the fourth quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company’s stock valued at $4,627,000 after buying an additional 815 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in Malibu Boats during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Company Profile

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.