Malibu Boats (NASDAQ:MBUU) Hits New 1-Year Low at $31.85

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price reached a new 52-week low during 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 Upgrades and Downgrades

MBUU has been the subject of several analyst reports. KeyCorp decreased their price objective on shares of Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday. Robert W. Baird lowered their price target on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday. Raymond James lowered shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. Truist Financial cut their price objective on shares of Malibu Boats from $52.00 to $42.00 and set a “buy” rating for the company in a research note on Friday. Finally, B. Riley lowered their price target 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Malibu Boats currently has an average rating of “Hold” and an average target price of $43.00.

Malibu Boats Trading Up 2.7 %

The company’s 50-day moving average is $39.44 and its 200 day moving average is $45.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $211.07 million for the quarter, compared to the consensus estimate of $219.64 million. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 17.56%. Malibu Boats’s revenue for the quarter was down 37.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. On average, analysts forecast that Malibu Boats, Inc. will post 2.55 EPS for the current year.

Insider Buying and Selling at Malibu Boats

In related news, insider Michael K. Hooks bought 12,500 shares of the stock in a transaction on Thursday, February 22nd. The shares were acquired at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the purchase, the insider now owns 12,500 shares of the company’s stock, valued at $535,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently made changes to their positions in MBUU. International Assets Investment Management LLC bought a new position in shares of Malibu Boats in the 4th quarter worth approximately $48,000. Central Pacific Bank Trust Division bought a new stake in Malibu Boats during the 1st quarter worth approximately $142,000. Benjamin Edwards Inc. raised its stake in Malibu Boats by 13.8% during the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after acquiring an additional 318 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Malibu Boats by 10.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock worth $194,000 after acquiring an additional 386 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Malibu Boats during the 3rd quarter worth approximately $203,000. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Company Profile

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.