Malibu Boats (NASDAQ:MBUU) Reaches New 12-Month Low – Time to Sell?

Malibu Boats, Inc. (NASDAQ:MBUU) hit a new 52-week low during trading on Friday . The company traded as low as $29.19 and last traded at $29.83, with a volume of 201997 shares trading hands. The stock had previously closed at $30.81.

Analyst Upgrades and Downgrades

MBUU has been the topic of a number of research reports. KeyCorp cut 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. B. Riley raised shares of Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Benchmark reaffirmed a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research note on Tuesday, February 4th. Finally, Truist Financial raised their price target on shares of Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Malibu Boats currently has an average rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Stock Performance

The firm has a market capitalization of $580.21 million, a PE ratio of -6.79 and a beta of 1.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The company’s fifty day moving average price is $34.91 and its two-hundred day moving average price is $38.36.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities analysts expect that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MBUU. Studio Investment Management LLC raised its holdings in Malibu Boats by 53.7% in the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after buying an additional 380 shares during the period. FMR LLC raised its holdings in Malibu Boats by 8.2% in the third quarter. FMR LLC now owns 136,043 shares of the company’s stock valued at $5,280,000 after buying an additional 10,276 shares during the period. De Lisle Partners LLP raised its holdings in Malibu Boats by 6.0% in the third quarter. De Lisle Partners LLP now owns 106,369 shares of the company’s stock valued at $4,131,000 after buying an additional 6,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Malibu Boats by 60.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,879 shares of the company’s stock valued at $267,000 after buying an additional 2,585 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Malibu Boats by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,711 shares of the company’s stock valued at $1,735,000 after buying an additional 7,637 shares during the period. 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.