Malibu Boats (NASDAQ:MBUU) Sets New 52-Week Low – Here’s Why

Malibu Boats, Inc. (NASDAQ:MBUU) shares reached a new 52-week low on Monday . The company traded as low as $25.10 and last traded at $28.75, with a volume of 282 shares changing hands. The stock had previously closed at $28.51.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MBUU shares. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price target (down from $50.00) on shares of Malibu Boats in a research report on Friday. Benchmark reissued a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. KeyCorp downgraded Malibu Boats from an “overweight” rating to a “sector weight” rating in a research note on Thursday, March 20th. Finally, Truist Financial lifted their target price on Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.83.

Malibu Boats Price Performance

The business’s 50-day simple moving average is $33.71 and its two-hundred day simple moving average is $37.87. The stock has a market cap of $557.28 million, a P/E ratio of -6.39 and a beta of 1.27. 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 posted its quarterly earnings results 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 positive return on equity of 1.04% and a negative net margin of 12.09%. Sell-side analysts expect that Malibu Boats, Inc. will post 1.69 EPS for the current year.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds have recently bought and sold shares of the stock. Heck Capital Advisors LLC purchased a new stake in shares of Malibu Boats during the 4th quarter valued at $38,000. Quarry LP bought a new stake in Malibu Boats during the fourth quarter worth about $45,000. Central Pacific Bank Trust Division raised its holdings in shares of Malibu Boats by 11.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after buying an additional 368 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Malibu Boats in the 4th quarter worth approximately $150,000. Finally, ProShare Advisors LLC bought a new stake in Malibu Boats in the 4th quarter worth approximately $207,000. 91.35% of the stock is currently owned by institutional investors.

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.