Malibu Boats (NASDAQ:MBUU) Shares Gap Down – Time to Sell?

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $43.64, but opened at $42.01. Malibu Boats shares last traded at $43.13, with a volume of 9,187 shares trading hands.

Wall Street Analyst Weigh In

MBUU has been the subject of a number of recent analyst reports. KeyCorp boosted their price objective on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Benchmark reissued a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a report on Friday, November 1st. Robert W. Baird increased their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial raised their price objective on Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Malibu Boats has an average rating of “Hold” and a consensus target price of $44.57.

Malibu Boats Stock Down 0.6 %

The company has a fifty day moving average price of $41.39 and a 200-day moving average price of $37.78. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The firm had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $165.33 million. During the same period last year, the firm earned $1.07 EPS. The company’s quarterly revenue was down 32.9% on a year-over-year basis. As a group, equities research analysts expect that Malibu Boats, Inc. will post 2.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC boosted its stake in Malibu Boats by 5.2% during the 3rd 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 during the last quarter. Wellington Management Group LLP boosted its position in shares of Malibu Boats by 154.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after purchasing an additional 897,387 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Malibu Boats by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after buying an additional 111,699 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Malibu Boats by 94.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock valued at $29,560,000 after acquiring an additional 409,574 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Malibu Boats by 8.2% in the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after purchasing an additional 43,769 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.