Malibu Boats (NASDAQ:MBUU) Reaches New 52-Week Low – Here’s What Happened

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) hit a new 52-week low on Wednesday . The company traded as low as $29.74 and last traded at $29.73, with a volume of 39621 shares traded. The stock had previously closed at $30.49.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MBUU. StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a report on Monday. KeyCorp decreased their price objective on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. B. Riley raised shares of Malibu Boats to a “hold” rating in a research report on Wednesday, February 12th. Truist Financial boosted their price target on shares of Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, Benchmark restated a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Stock Up 0.9 %

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 stock’s 50-day moving average price is $36.05 and its two-hundred day moving average price is $38.67. The stock has a market capitalization of $642.85 million, a PE ratio of -7.53 and a beta of 1.33.

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 analysts’ consensus estimates 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, analysts expect that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds have recently added to or reduced their stakes in MBUU. Heck Capital Advisors LLC purchased a new position in shares of Malibu Boats in the 4th quarter worth about $38,000. Studio Investment Management LLC increased its stake in Malibu Boats by 53.7% during the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after purchasing an additional 380 shares in the last quarter. Quarry LP purchased a new position in Malibu Boats in the fourth quarter worth about $45,000. Central Pacific Bank Trust Division raised its holdings in Malibu Boats by 11.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after buying an additional 368 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Malibu Boats in the fourth quarter worth approximately $150,000. 91.35% of the stock is 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.