Malibu Boats (NASDAQ:MBUU) Sets New 52-Week Low – Should You Sell?

Malibu Boats, Inc. (NASDAQ:MBUU) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $25.10 and last traded at $28.75, with a volume of 282 shares trading hands. The stock had previously closed at $28.51.

Analysts Set New Price Targets

MBUU has been the topic of a number of recent research reports. StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a report on Monday. KeyCorp lowered Malibu Boats from an “overweight” rating to a “sector weight” rating in a research report on Thursday, March 20th. Truist Financial lifted their target price on shares of Malibu Boats from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. B. Riley raised Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. Finally, Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.83.

Malibu Boats Stock Performance

The company has a 50-day simple moving average of $32.92 and a two-hundred day simple moving average of $37.58. The company has a quick ratio of 0.45, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. The firm has a market cap of $494.21 million, a PE ratio of -5.79 and a beta of 1.27.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Institutional Trading of Malibu Boats

Several hedge funds have recently made changes to their positions in MBUU. Heck Capital Advisors LLC purchased a new stake in Malibu Boats in the 4th quarter worth about $38,000. Quarry LP purchased a new position in Malibu Boats in the 4th quarter valued at approximately $45,000. Central Pacific Bank Trust Division lifted its position in shares of Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after acquiring an additional 368 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Malibu Boats in the fourth quarter worth $150,000. Finally, GAMMA Investing LLC grew its position in shares of Malibu Boats by 2,154.4% in the first quarter. GAMMA Investing LLC now owns 4,847 shares of the company’s stock valued at $158,000 after purchasing an additional 4,632 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.