Malibu Boats (NASDAQ:MBUU) Trading 4.9% Higher

Malibu Boats, Inc. (NASDAQ:MBUU)’s share price rose 4.9% during mid-day trading on Friday . The stock traded as high as $36.51 and last traded at $36.44. Approximately 63,778 shares were traded during trading, a decline of 76% from the average daily volume of 261,652 shares. The stock had previously closed at $34.75.

Wall Street Analyst Weigh In

MBUU has been the topic of several analyst reports. Truist Financial reaffirmed a “hold” rating and set a $32.00 price target on shares of Malibu Boats in a research note on Monday, July 8th. DA Davidson downgraded shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Wednesday, July 24th. Benchmark initiated coverage on shares of Malibu Boats in a research note on Wednesday, May 22nd. They set a “buy” rating and a $44.00 price target on the stock. B. Riley dropped their price target on shares of Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.00.

Malibu Boats Price Performance

The company’s 50-day moving average price is $35.17 and its two-hundred day moving average price is $37.47. The company has a market cap of $743.40 million, a P/E ratio of -13.62 and a beta of 1.40. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.07). The company had revenue of $158.70 million during the quarter, compared to the consensus estimate of $157.54 million. Malibu Boats had a positive return on equity of 18.01% and a negative net margin of 5.19%. Malibu Boats’s revenue for the quarter was down 57.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.96 EPS. As a group, sell-side analysts expect that Malibu Boats, Inc. will post 1.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MBUU. Studio Investment Management LLC boosted its holdings in shares of Malibu Boats by 264.4% in the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after buying an additional 513 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Malibu Boats in the 1st quarter valued at about $84,000. SG Americas Securities LLC acquired a new position in shares of Malibu Boats in the 2nd quarter valued at about $139,000. Central Pacific Bank Trust Division acquired a new position in shares of Malibu Boats in the 1st quarter valued at about $142,000. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after buying an additional 318 shares during the period. 91.35% of the stock is 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.