Malibu Boats (NASDAQ:MBUU) Sets New 12-Month Low at $33.77

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price hit a new 52-week low on Monday . The company traded as low as $33.77 and last traded at $33.78, with a volume of 261158 shares traded. The stock had previously closed at $34.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MBUU shares. B. Riley lowered their price target on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. KeyCorp lowered their price target on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Robert W. Baird reissued an “outperform” rating and issued a $54.00 price target on shares of Malibu Boats in a research report on Friday, January 19th. Raymond James downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. Finally, StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $49.00.

Malibu Boats Stock Down 0.2 %

The stock has a 50 day simple moving average of $41.29 and a 200-day simple moving average of $46.01. The firm has a market cap of $694.86 million, a PE ratio of 10.90 and a beta of 1.37. 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 data 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 return on equity of 24.23% and a net margin of 5.32%. The company had revenue of $211.07 million during the quarter, compared to analysts’ expectations of $219.64 million. During the same quarter in the prior year, the business earned $1.78 earnings per share. Malibu Boats’s revenue for the quarter was down 37.7% compared to the same quarter last year. Sell-side analysts predict that Malibu Boats, Inc. will post 2.55 EPS for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In other news, insider Michael K. Hooks acquired 12,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average price of $42.82 per share, with a total value of $535,250.00. Following the completion of the purchase, the insider now directly owns 12,500 shares in the company, valued at $535,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.62% of the company’s stock.

Institutional Trading of Malibu Boats

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cooke & Bieler LP lifted its holdings in shares of Malibu Boats by 35.2% in the 4th quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock valued at $50,476,000 after buying an additional 239,707 shares during the period. Invesco Ltd. raised its holdings in Malibu Boats by 272.7% in the 3rd quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock worth $6,231,000 after purchasing an additional 93,004 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in Malibu Boats by 29.3% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 318,826 shares of the company’s stock worth $15,629,000 after buying an additional 72,330 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Malibu Boats by 57.8% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 196,943 shares of the company’s stock worth $9,654,000 after buying an additional 72,120 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in Malibu Boats by 27.1% during the 3rd quarter. Epoch Investment Partners Inc. now owns 267,168 shares of the company’s stock worth $13,097,000 after buying an additional 56,968 shares in the last quarter. Institutional investors and hedge funds 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.