Malibu Boats (NASDAQ:MBUU) Trading Down 5.2% – Should You Sell?

Malibu Boats, Inc. (NASDAQ:MBUU) was down 5.2% on Friday . The company traded as low as $41.60 and last traded at $41.85. Approximately 64,620 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 245,732 shares. The stock had previously closed at $44.14.

Analyst Upgrades and Downgrades

MBUU has been the topic of several analyst reports. StockNews.com raised shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. KeyCorp upped their price target on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. DA Davidson lowered Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research report on Friday, November 1st. Benchmark restated a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a report on Friday, November 1st. Finally, Truist Financial lifted their price target on shares of Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.57.

Malibu Boats Trading Down 5.8 %

The firm has a market capitalization of $820.35 million, a P/E ratio of -10.31 and a beta of 1.30. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $42.36 and a 200-day simple moving average of $38.36.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $165.33 million. During the same quarter last year, the business earned $1.07 EPS. The firm’s revenue was down 32.9% compared to the same quarter last year. On average, equities research analysts forecast that Malibu Boats, Inc. will post 2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Meros Investment Management LP purchased a new stake in Malibu Boats in the 3rd quarter worth about $4,117,000. Geode Capital Management LLC raised its stake in shares of Malibu Boats by 8.2% during the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after acquiring an additional 43,769 shares in the last quarter. Barclays PLC boosted its holdings in shares of Malibu Boats by 92.6% in the third quarter. Barclays PLC now owns 46,919 shares of the company’s stock valued at $1,820,000 after purchasing an additional 22,556 shares during the period. MML Investors Services LLC raised its position in Malibu Boats by 22.2% during the 3rd quarter. MML Investors Services LLC now owns 17,743 shares of the company’s stock valued at $689,000 after purchasing an additional 3,228 shares in the last quarter. Finally, Dean Investment Associates LLC raised its holdings in shares of Malibu Boats by 40.0% in the third quarter. Dean Investment Associates LLC now owns 81,073 shares of the company’s stock valued at $3,146,000 after acquiring an additional 23,170 shares in the last quarter. 91.35% of the stock is owned by hedge funds and other 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.