Malibu Boats (NASDAQ:MBUU) Reaches New 52-Week Low at $36.39

Malibu Boats, Inc. (NASDAQ:MBUU) shares hit a new 52-week low during trading on Monday . The company traded as low as $36.39 and last traded at $36.70, with a volume of 69098 shares changing hands. The stock had previously closed at $38.48.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. KeyCorp decreased their price target on shares of Malibu Boats from $58.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Monday, February 26th. B. Riley cut their price objective on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday. Raymond James downgraded shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $54.00 price target on shares of Malibu Boats in a report on Friday, January 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Malibu Boats presently has an average rating of “Hold” and a consensus price target of $49.00.

Malibu Boats Stock Performance

The stock’s fifty day moving average price is $42.83 and its two-hundred day moving average price is $46.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82. The company has a market cap of $712.80 million, a P/E ratio of 11.18 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $211.07 million during the quarter, compared to analysts’ expectations of $219.64 million. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The firm’s quarterly revenue was down 37.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 EPS. As a group, equities analysts predict that Malibu Boats, Inc. will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael K. Hooks acquired 12,500 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the transaction, the insider now directly owns 12,500 shares in the company, valued at $535,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc acquired a new position in Malibu Boats in the 3rd quarter valued at approximately $25,000. Quarry LP acquired a new position in Malibu Boats in the 2nd quarter valued at approximately $25,000. Public Employees Retirement System of Ohio increased its position in Malibu Boats by 44.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company’s stock valued at $27,000 after acquiring an additional 173 shares during the period. Comerica Bank acquired a new position in Malibu Boats in the 3rd quarter valued at approximately $27,000. Finally, Ensign Peak Advisors Inc acquired a new position in Malibu Boats in the 3rd quarter valued at approximately $29,000. 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.