Malibu Boats (NASDAQ:MBUU) Hits New 52-Week Low – Time to Sell?

Malibu Boats, Inc. (NASDAQ:MBUU)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $29.00 and last traded at $29.38, with a volume of 8002 shares traded. The stock had previously closed at $29.57.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. B. Riley upgraded Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. KeyCorp cut shares of Malibu Boats from an “overweight” rating to a “sector weight” rating in a report on Thursday, March 20th. Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research report on Tuesday, February 4th. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Truist Financial upped their target price on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.83.

Malibu Boats Price Performance

The company has a current ratio of 1.52, a quick ratio of 0.45 and a debt-to-equity ratio of 0.04. The firm has a market cap of $582.37 million, a PE ratio of -6.83 and a beta of 1.42. The business has a fifty day moving average of $34.42 and a 200-day moving average of $38.17.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) 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, research analysts predict that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of 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 during the last quarter. Meros Investment Management LP purchased a new position in Malibu Boats in the third quarter worth $4,117,000. Barclays PLC grew its position in 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 acquiring an additional 22,556 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Malibu Boats by 6.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 121,711 shares of the company’s stock valued at $4,575,000 after purchasing an additional 7,186 shares during the last quarter. Finally, Atom Investors LP raised its holdings in shares of Malibu Boats by 219.0% during the 3rd quarter. Atom Investors LP now owns 55,357 shares of the company’s stock valued at $2,148,000 after buying an additional 38,002 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors.

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.