Malibu Boats (NASDAQ:MBUU) Stock Price Down 5.2% – Time to Sell?

Malibu Boats, Inc. (NASDAQ:MBUU) was down 5.2% on Friday . The company traded as low as $41.60 and last traded at $41.85. Approximately 64,620 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 245,732 shares. The stock had previously closed at $44.14.

Analyst Ratings Changes

Several analysts have issued reports on MBUU shares. Robert W. Baird lifted their price target on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a research report on Friday, November 1st. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research note on Friday, November 1st. Truist Financial boosted their price objective on shares of Malibu Boats from $32.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, StockNews.com raised shares of Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. One investment 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. 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 Down 5.8 %

The stock has a 50-day moving average of $42.36 and a 200 day moving average of $38.36. The company has a market cap of $820.35 million, a P/E ratio of -10.31 and a beta of 1.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.52.

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

Institutional Investors Weigh In On Malibu Boats

Several large investors have recently added to or reduced their stakes in MBUU. Studio Investment Management LLC lifted its position in shares of Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after acquiring an additional 513 shares during the period. nVerses Capital LLC bought a new position in shares of Malibu Boats during the 3rd quarter worth about $74,000. SG Americas Securities LLC acquired a new stake in Malibu Boats in the second quarter valued at approximately $139,000. Benjamin Edwards Inc. lifted its holdings in shares of Malibu Boats by 43.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock worth $179,000 after purchasing an additional 1,539 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Malibu Boats by 851.7% in the third quarter. US Bancorp DE now owns 5,434 shares of the company’s stock valued at $211,000 after buying an additional 4,863 shares in the last quarter. 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.