Malibu Boats (NASDAQ:MBUU) Shares Up 7.4% - Time to Buy?

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report)'s share price traded up 7.4% during trading on Tuesday . The stock traded as high as $32.94 and last traded at $33.65. 13,306 shares changed hands during trading, a decline of 93% from the average session volume of 200,996 shares. The stock had previously closed at $31.34.

Analyst Ratings Changes

A number of research analysts have issued reports on MBUU shares. Baird R W lowered Malibu Boats from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen upgraded Malibu Boats from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Truist Financial decreased their target price on shares of Malibu Boats from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Monday, April 14th. DA Davidson started coverage on shares of Malibu Boats in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $33.00 target price for the company. Finally, Robert W. Baird reiterated 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Malibu Boats has an average rating of "Hold" and an average price target of $36.17.

Malibu Boats Stock Down 0.4%

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

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $228.66 million during the quarter, compared to analyst estimates of $226.44 million. During the same quarter in the prior year, the firm posted $0.63 EPS. Malibu Boats's revenue was up 12.4% compared to the same quarter last year. As a group, research analysts anticipate that Malibu Boats, Inc. will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several large investors have recently made changes to their positions in MBUU. Heck Capital Advisors LLC bought a new position in shares of Malibu Boats during the 4th quarter valued at about $38,000. Quarry LP bought a new position in shares of Malibu Boats during the 4th quarter valued at about $45,000. Strs Ohio bought a new position in shares of Malibu Boats during the 1st quarter valued at about $123,000. KLP Kapitalforvaltning AS bought a new position in shares of Malibu Boats during the 4th quarter valued at about $150,000. Finally, GAMMA Investing LLC boosted its position in shares of Malibu Boats by 2,154.4% during the 1st 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. Institutional investors own 91.35% of the company's stock.

About Malibu Boats

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.