Malibu Boats (NASDAQ:MBUU) Trading Down 5.3% – What’s Next?

Malibu Boats, Inc. (NASDAQ:MBUU)’s share price traded down 5.3% on Tuesday . The company traded as low as $42.63 and last traded at $42.81. 49,266 shares were traded during trading, a decline of 80% from the average session volume of 250,562 shares. The stock had previously closed at $45.22.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a report on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. DA Davidson lowered 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. KeyCorp increased their target price on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Truist Financial increased their target price on shares of Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $44.57.

Malibu Boats Stock Up 3.5 %

The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $41.32 and its 200 day simple moving average is $37.73. The firm has a market capitalization of $860.58 million, a PE ratio of -10.96 and a beta of 1.36.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The business had revenue of $171.60 million during the quarter, compared to analyst estimates of $165.33 million. During the same period last year, the business posted $1.07 earnings per share. Malibu Boats’s quarterly revenue was down 32.9% compared to the same quarter last year. Analysts anticipate that Malibu Boats, Inc. will post 2.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Institutional investors and hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new position in shares of Malibu Boats during the second quarter valued at approximately $3,667,000. Empowered Funds LLC increased its stake in shares of Malibu Boats by 38.8% during the third quarter. Empowered Funds LLC now owns 66,606 shares of the company’s stock valued at $2,585,000 after purchasing an additional 18,636 shares in the last quarter. Pzena Investment Management LLC bought a new position in shares of Malibu Boats during the second quarter valued at approximately $51,800,000. Allspring Global Investments Holdings LLC increased its stake in shares of Malibu Boats by 37.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company’s stock valued at $4,445,000 after purchasing an additional 31,026 shares in the last quarter. Finally, Chartwell Investment Partners LLC bought a new position in shares of Malibu Boats during the third quarter valued at approximately $3,132,000. 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.