Malibu Boats (NASDAQ:MBUU) Sees Large Volume Increase – Still a Buy?

Malibu Boats, Inc. (NASDAQ:MBUU) saw strong trading volume on Wednesday . 192,152 shares were traded during mid-day trading, an increase of 41% from the previous session’s volume of 135,885 shares.The stock last traded at $37.13 and had previously closed at $36.91.

Wall Street Analyst Weigh In

MBUU has been the subject of several analyst reports. 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. Truist Financial decreased their price target on Malibu Boats from $42.00 to $34.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. Robert W. Baird increased their target price on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” 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. Finally, KeyCorp cut their price objective on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.71.

Malibu Boats Stock Performance

The company’s 50 day simple moving average is $39.27 and its 200 day simple moving average is $38.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. The stock has a market cap of $751.73 million, a price-to-earnings ratio of -9.58 and a beta of 1.32.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.16. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The business had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. During the same period last year, the firm posted $1.07 earnings per share. The firm’s quarterly revenue was down 32.9% compared to the same quarter last year. On average, equities research analysts anticipate that Malibu Boats, Inc. will post 2.06 earnings per share for the current year.

Institutional Investors Weigh In On Malibu Boats

Institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its holdings in shares of Malibu Boats by 4.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company’s stock worth $300,000 after buying an additional 311 shares during the period. Central Pacific Bank Trust Division raised its stake in Malibu Boats by 11.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after purchasing an additional 368 shares during the last quarter. Studio Investment Management LLC raised its stake in Malibu Boats by 53.7% during the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after purchasing an additional 380 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Malibu Boats in the 4th quarter valued at $38,000. Finally, Bank of Montreal Can grew its position in Malibu Boats by 10.4% in the 2nd quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock worth $442,000 after purchasing an additional 1,170 shares during the last quarter. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.