Malibu Boats (NASDAQ:MBUU) Shares Gap Down – What’s Next?

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

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

Malibu Boats Stock Performance

The company’s fifty day moving average price is $35.10 and its 200 day moving average price is $38.45. The company has a market cap of $590.42 million, a PE ratio of -6.91 and a beta of 1.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) 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%. On average, equities research analysts predict that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Hedge Funds Weigh In On Malibu Boats

Several large investors have recently modified their holdings of the business. Pzena Investment Management LLC increased its stake in shares of Malibu Boats by 5.2% in the third quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock worth $60,362,000 after purchasing an additional 77,015 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Malibu Boats by 3.8% in the fourth quarter. Wellington Management Group LLP now owns 1,533,605 shares of the company’s stock worth $57,648,000 after purchasing an additional 56,629 shares in the last quarter. Cooke & Bieler LP increased its stake in shares of Malibu Boats by 1.0% in the fourth quarter. Cooke & Bieler LP now owns 1,343,660 shares of the company’s stock worth $50,508,000 after purchasing an additional 13,767 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Malibu Boats by 1.0% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 719,717 shares of the company’s stock worth $27,054,000 after purchasing an additional 6,865 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Malibu Boats by 10.6% in the fourth quarter. American Century Companies Inc. now owns 579,664 shares of the company’s stock worth $21,790,000 after purchasing an additional 55,767 shares in the last quarter. 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.