Malibu Boats (NASDAQ:MBUU) Reaches New 52-Week Low – Time to Sell?

Malibu Boats, Inc. (NASDAQ:MBUU)’s share price hit a new 52-week low on Friday . The stock traded as low as $29.19 and last traded at $29.83, with a volume of 201997 shares changing hands. The stock had previously closed at $30.81.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MBUU. KeyCorp cut Malibu Boats from an “overweight” rating to a “sector weight” rating in a research note on Thursday. B. Riley raised shares of Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Truist Financial boosted their target price on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Malibu Boats has a consensus rating of “Hold” and a consensus target price of $42.83.

Malibu Boats Price Performance

The firm has a market capitalization of $585.71 million, a P/E ratio of -6.86 and a beta of 1.42. The business’s fifty day moving average is $35.00 and its 200 day moving average is $38.39. The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04.

Malibu Boats (NASDAQ:MBUU) last announced 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 negative net margin of 12.09% and a positive return on equity of 1.04%. As a group, analysts forecast that Malibu Boats, Inc. will post 1.69 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Hedge funds and other institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its holdings in Malibu Boats by 4.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock worth $300,000 after buying an additional 311 shares during the period. Central Pacific Bank Trust Division increased its position in shares of Malibu Boats by 11.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after acquiring an additional 368 shares in the last quarter. Studio Investment Management LLC raised its holdings in shares of Malibu Boats by 53.7% during the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after acquiring an additional 380 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Malibu Boats by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company’s stock valued at $4,627,000 after acquiring an additional 815 shares during the period. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Malibu Boats in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds 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.