Malibu Boats (NASDAQ:MBUU) Shares Down 5.3% – Time to Sell?

Malibu Boats, Inc. (NASDAQ:MBUU)’s share price fell 5.3% on Tuesday . The stock traded as low as $42.63 and last traded at $42.81. 49,266 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 250,562 shares. The stock had previously closed at $45.22.

Analyst Ratings Changes

A number of brokerages recently issued reports on MBUU. Robert W. Baird increased their price objective on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial lifted their price target on Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, November 1st. KeyCorp upped their price objective on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. Finally, Benchmark reissued a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.57.

Malibu Boats Stock Performance

The company has a market cap of $831.97 million, a P/E ratio of -10.71 and a beta of 1.36. The company’s fifty day moving average is $41.17 and its 200 day moving average is $37.65. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.16. The firm had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The company’s quarterly revenue was down 32.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 earnings per share. As a group, equities analysts predict that Malibu Boats, Inc. will post 2.01 earnings per share for the current fiscal year.

Institutional Trading of Malibu Boats

A number of institutional investors have recently made changes to their positions in the stock. Meros Investment Management LP purchased a new stake in Malibu Boats during the 3rd quarter valued at $4,117,000. Geode Capital Management LLC boosted its holdings in shares of Malibu Boats by 8.2% during the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after purchasing an additional 43,769 shares during the period. Barclays PLC grew its stake in shares of Malibu Boats by 92.6% in the third quarter. Barclays PLC now owns 46,919 shares of the company’s stock worth $1,820,000 after purchasing an additional 22,556 shares during the last quarter. MML Investors Services LLC increased its holdings in Malibu Boats by 22.2% during the 3rd quarter. MML Investors Services LLC now owns 17,743 shares of the company’s stock valued at $689,000 after purchasing an additional 3,228 shares during the period. Finally, Dean Investment Associates LLC raised its position in Malibu Boats by 40.0% during the 3rd quarter. Dean Investment Associates LLC now owns 81,073 shares of the company’s stock valued at $3,146,000 after purchasing an additional 23,170 shares during the last quarter. 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.