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

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

Wall Street Analyst Weigh In

MBUU has been the topic of several recent research reports. KeyCorp lowered shares of Malibu Boats from an "overweight" rating to a "sector weight" rating in a research report on Thursday, March 20th. DA Davidson started coverage on shares of Malibu Boats in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $33.00 price objective for the company. Robert W. Baird reiterated a "neutral" rating and set a $32.00 target price (down previously from $50.00) on shares of Malibu Boats in a report on Friday, April 4th. Wall Street Zen raised Malibu Boats from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Truist Financial decreased their price target on shares of Malibu Boats from $38.00 to $28.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Malibu Boats presently has a consensus rating of "Hold" and an average price target of $36.17.

Malibu Boats Stock Up 0.6%

The firm's 50-day moving average price is $30.91 and its 200-day moving average price is $32.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.60 and a quick ratio of 0.61. The company has a market cap of $652.27 million, a price-to-earnings ratio of -82.42 and a beta of 1.14.

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

Institutional Trading of Malibu Boats

Several institutional investors have recently added to or reduced their stakes in MBUU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $356,000 after buying an additional 491 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Malibu Boats by 0.7% in the 4th quarter. Ameriprise Financial Inc. now owns 123,094 shares of the company's stock worth $4,627,000 after buying an additional 815 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in Malibu Boats in the 4th quarter valued at approximately $38,000. Price T Rowe Associates Inc. MD boosted its position 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 worth $456,000 after acquiring an additional 1,103 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Malibu Boats by 2.4% in the fourth quarter. Invesco Ltd. now owns 49,005 shares of the company's stock worth $1,842,000 after purchasing an additional 1,141 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.