Malibu Boats (NASDAQ:MBUU) Reaches New 12-Month Low at $31.85

Malibu Boats, Inc. (NASDAQ:MBUU) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $31.85 and last traded at $32.34, with a volume of 71337 shares trading hands. The stock had previously closed at $33.06.

Analyst Ratings Changes

Several brokerages have recently commented on MBUU. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Truist Financial lowered their price objective on shares of Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Robert W. Baird reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Malibu Boats in a research note on Friday, January 19th. B. Riley lowered their price objective on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Finally, Raymond James downgraded shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $49.00.

Malibu Boats Stock Down 2.1 %

The stock’s 50 day simple moving average is $39.84 and its two-hundred day simple moving average is $45.41. The firm has a market cap of $661.32 million, a P/E ratio of 10.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.82 and a quick ratio of 0.69.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The firm had revenue of $211.07 million for the quarter, compared to analysts’ expectations of $219.64 million. During the same quarter in the prior year, the company posted $1.78 earnings per share. The business’s revenue for the quarter was down 37.7% on a year-over-year basis. As a group, research analysts forecast that Malibu Boats, Inc. will post 2.55 earnings per share for the current year.

Insider Activity

In other news, insider Michael K. Hooks purchased 12,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the acquisition, the insider now directly owns 12,500 shares in the company, valued at approximately $535,250. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MBUU. Vanguard Group Inc. increased its holdings in shares of Malibu Boats by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock worth $66,926,000 after buying an additional 35,474 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Malibu Boats by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock valued at $54,765,000 after acquiring an additional 38,450 shares during the last quarter. Cooke & Bieler LP lifted its position in Malibu Boats by 35.2% during the fourth quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock valued at $50,476,000 after acquiring an additional 239,707 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Malibu Boats by 1.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 435,541 shares of the company’s stock valued at $23,876,000 after acquiring an additional 7,844 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Malibu Boats by 0.7% in the third quarter. The Manufacturers Life Insurance Company now owns 427,697 shares of the company’s stock worth $20,966,000 after buying an additional 2,789 shares during the last quarter. 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.