Malibu Boats (NASDAQ:MBUU) Hits New 12-Month Low – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

Malibu Boats Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The business has a 50 day moving average price of $34.42 and a 200-day moving average price of $38.17. The company has a market capitalization of $582.37 million, a price-to-earnings ratio of -6.83 and a beta of 1.42.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. Research analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Malibu Boats by 8.2% during 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 period. Meros Investment Management LP acquired a new stake in Malibu Boats in the 3rd quarter valued at $4,117,000. Barclays PLC lifted its stake in shares of Malibu Boats by 92.6% in the third quarter. Barclays PLC now owns 46,919 shares of the company’s stock valued at $1,820,000 after buying an additional 22,556 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Malibu Boats by 6.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 121,711 shares of the company’s stock valued at $4,575,000 after buying an additional 7,186 shares during the last quarter. Finally, Atom Investors LP increased its position in shares of Malibu Boats by 219.0% during the third quarter. Atom Investors LP now owns 55,357 shares of the company’s stock worth $2,148,000 after acquiring an additional 38,002 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.