Malibu Boats (NASDAQ:MBUU) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Malibu Boats, Inc. (NASDAQ:MBUU) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $27.28 and traded as low as $26.15. Malibu Boats shares last traded at $26.68, with a volume of 241,921 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, August 27th. Truist Financial increased their target price on shares of Malibu Boats from $31.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Zacks Research cut shares of Malibu Boats from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Benchmark restated a “buy” rating on shares of Malibu Boats in a research report on Friday, August 28th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Malibu Boats in a report on Monday. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.60.

Malibu Boats Price Performance

The stock has a 50 day moving average of $27.86 and a two-hundred day moving average of $27.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.60 and a current ratio of 1.43. The stock has a market cap of $548.68 million, a PE ratio of 398.29 and a beta of 1.15.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.14. The company had revenue of $295.54 million during the quarter, compared to analyst estimates of $263.89 million. Malibu Boats had a net margin of 0.18% and a return on equity of 4.78%. The business’s quarterly revenue was up 42.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. Equities analysts anticipate that Malibu Boats, Inc. will post 2.22 EPS for the current year.

Institutional Trading of Malibu Boats

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Malibu Boats by 44.6% during the first quarter. Bank of America Corp DE now owns 343,042 shares of the company’s stock valued at $8,892,000 after buying an additional 105,734 shares in the last quarter. Parallel Advisors LLC purchased a new stake in Malibu Boats in the 1st quarter worth about $194,403,000. Dimensional Fund Advisors LP boosted its position in Malibu Boats by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 967,068 shares of the company’s stock worth $25,067,000 after acquiring an additional 52,635 shares during the period. Meros Investment Management LP boosted its position in Malibu Boats by 16.9% during the 4th quarter. Meros Investment Management LP now owns 157,875 shares of the company’s stock worth $4,454,000 after acquiring an additional 22,782 shares during the period. Finally, Empowered Funds LLC purchased a new position in Malibu Boats during the 1st quarter valued at about $2,321,000. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Company Profile

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.