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

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $43.64, but opened at $42.01. Malibu Boats shares last traded at $43.13, with a volume of 9,187 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Robert W. Baird boosted their target price on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research report on Friday, November 1st. DA Davidson cut Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Friday, November 1st. StockNews.com raised Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. Finally, KeyCorp boosted their target price on shares of Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.57.

Malibu Boats Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.52. The firm has a 50-day simple moving average of $41.39 and a 200 day simple moving average of $37.78.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (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 negative net margin of 10.90% and a positive return on equity of 2.39%. The firm’s quarterly revenue was down 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 EPS. Equities research analysts anticipate that Malibu Boats, Inc. will post 2.01 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

A number of hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC lifted its position in shares of Malibu Boats by 5.2% during the third quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock worth $60,362,000 after purchasing an additional 77,015 shares during the last quarter. Wellington Management Group LLP boosted its position in Malibu Boats by 154.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after purchasing an additional 897,387 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Malibu Boats by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after acquiring an additional 111,699 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Malibu Boats by 94.4% in the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock valued at $29,560,000 after purchasing an additional 409,574 shares during the period. Finally, Geode Capital Management LLC increased its position in Malibu Boats by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after acquiring an additional 43,769 shares during the period. Institutional investors and hedge funds 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.