Malibu Boats (NASDAQ:MBUU) Trading Down 5.2% – Should You Sell?

Malibu Boats, Inc. (NASDAQ:MBUU) fell 5.2% on Friday . The stock traded as low as $41.60 and last traded at $41.85. 64,620 shares were traded during trading, a decline of 74% from the average session volume of 245,732 shares. The stock had previously closed at $44.14.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MBUU. KeyCorp boosted their target price on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a report on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. Truist Financial upped their price target on shares of Malibu Boats from $32.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Malibu Boats currently has an average rating of “Hold” and an average target price of $44.57.

Malibu Boats Price Performance

The business’s 50-day moving average price is $42.41 and its 200 day moving average price is $38.42. The company has a market capitalization of $832.38 million, a P/E ratio of -10.61 and a beta of 1.30. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.16. The firm had revenue of $171.60 million during 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 business’s quarterly revenue was down 32.9% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS. Analysts anticipate that Malibu Boats, Inc. will post 2.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Large investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC raised its holdings in shares of Malibu Boats by 5.2% in the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after acquiring an additional 77,015 shares in the last quarter. Wellington Management Group LLP raised its stake in Malibu Boats by 154.8% in the third 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in Malibu Boats by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after purchasing an additional 111,699 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Malibu Boats by 94.4% during 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 last quarter. Finally, Geode Capital Management LLC grew its stake in Malibu Boats by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after buying an additional 43,769 shares in the last quarter. 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.