Malibu Boats (NASDAQ:MBUU) Stock Price Breaks Above 50 Day Moving Average – Time to Sell?

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $24.02 and traded as high as $25.33. Malibu Boats shares last traded at $24.71, with a volume of 446,974 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MBUU. Raymond James Financial reiterated a “market perform” rating on shares of Malibu Boats in a research note on Monday, August 31st. Truist Financial decreased their target price on shares of Malibu Boats from $34.00 to $26.00 and set a “hold” rating for the company in a research note on Friday, October 23rd. Zacks Research downgraded 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 report on Friday, August 28th. Finally, Wall Street Zen lowered shares of Malibu Boats from a “buy” rating to a “hold” rating in a research report on Sunday. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Malibu Boats currently has a consensus rating of “Hold” and an average target price of $30.00.

Malibu Boats Price Performance

The company’s 50-day simple moving average is $24.02 and its 200-day simple moving average is $27.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 0.60. The stock has a market capitalization of $486.29 million, a price-to-earnings ratio of 353.00 and a beta of 1.19.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, August 27th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.78 by $0.14. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%. The company had revenue of $295.54 million for the quarter, compared to the consensus estimate of $263.89 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 42.8% on a year-over-year basis. Research analysts forecast that Malibu Boats, Inc. will post 2.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Malibu Boats during the second quarter worth $35,000. Central Pacific Bank Trust Division boosted its position in shares of Malibu Boats by 11.9% in the third quarter. Central Pacific Bank Trust Division now owns 5,934 shares of the company’s stock valued at $136,000 after acquiring an additional 630 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Malibu Boats in the second quarter valued at about $206,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Malibu Boats in the second quarter valued at about $222,000. Finally, AXQ Capital LP acquired a new position in shares of Malibu Boats in the second quarter valued at about $272,000. 91.35% of the stock is owned by institutional investors and hedge funds.

Malibu Boats Company Profile

Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. The company designs, manufactures and sells boats for watersports, boating and fishing activities, serving consumers through a network of independent dealers in the United States and international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, as well as a range of saltwater and freshwater fishing and offshore boats sold under brands including Pursuit, Maverick, Cobia, Pathfinder and Hewes.