Malibu Boats (NASDAQ:MBUU) Stock Crosses Above 50-Day Moving Average - What's Next?

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $31.04 and traded as high as $35.24. Malibu Boats shares last traded at $34.90, with a volume of 181,310 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently commented on MBUU shares. Wall Street Zen upgraded Malibu Boats from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Baird R W downgraded shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. DA Davidson assumed coverage on shares of Malibu Boats in a report on Tuesday, June 3rd. They set a "neutral" rating and a $33.00 target price on the stock. Truist Financial lowered their price objective on Malibu Boats from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Finally, Robert W. Baird restated a "neutral" rating and issued a $32.00 target price (down previously from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Malibu Boats currently has a consensus rating of "Hold" and a consensus price target of $36.17.

Malibu Boats Price Performance

The firm has a market cap of $666.76 million, a price-to-earnings ratio of -84.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.61 and a current ratio of 1.60. The stock's 50 day simple moving average is $31.17 and its 200-day simple moving average is $32.67.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.06. Malibu Boats had a negative net margin of 1.19% and a positive return on equity of 1.66%. The business had revenue of $228.66 million for the quarter, compared to the consensus estimate of $226.44 million. During the same period last year, the firm posted $0.63 earnings per share. The company's revenue was up 12.4% compared to the same quarter last year. Equities research analysts anticipate that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Malibu Boats by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company's stock worth $356,000 after buying an additional 491 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Malibu Boats by 0.7% in the fourth quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company's stock valued at $4,627,000 after buying an additional 815 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Malibu Boats in the 4th quarter worth approximately $38,000. Price T Rowe Associates Inc. MD increased its stake in Malibu Boats by 10.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,111 shares of the company's stock valued at $456,000 after buying an additional 1,103 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Malibu Boats by 2.4% in the 4th quarter. Invesco Ltd. now owns 49,005 shares of the company's stock worth $1,842,000 after buying an additional 1,141 shares in the last quarter. 91.35% of the stock is currently owned by hedge funds and other 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.