Malibu Boats (NASDAQ:MBUU) Hits New 52-Week Low at $33.77

Shares of Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $33.77 and last traded at $33.78, with a volume of 261158 shares traded. The stock had previously closed at $34.48.

Analyst Ratings Changes

Several research firms have commented on MBUU. Raymond James cut shares of Malibu Boats from an "outperform" rating to a "market perform" rating in a research note on Monday, April 15th. StockNews.com raised shares of Malibu Boats from a "sell" rating to a "hold" rating in a research note on Monday, February 26th. Robert W. Baird reaffirmed an "outperform" rating and issued a $54.00 target price on shares of Malibu Boats in a research note on Friday, January 19th. B. Riley lowered their target price on shares of Malibu Boats from $45.00 to $39.00 and set a "neutral" rating for the company in a research note on Tuesday, April 16th. Finally, KeyCorp lowered their target price on shares of Malibu Boats from $58.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Malibu Boats currently has a consensus rating of "Hold" and a consensus target price of $49.00.

Malibu Boats Stock Performance

The company has a market cap of $696.05 million, a price-to-earnings ratio of 10.92 and a beta of 1.37. The stock's fifty day simple moving average is $41.87 and its two-hundred day simple moving average is $46.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.10. The company had revenue of $211.07 million for the quarter, compared to analyst estimates of $219.64 million. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. Malibu Boats's revenue for the quarter was down 37.7% on a year-over-year basis. During the same quarter last year, the business earned $1.78 EPS. Equities research analysts anticipate that Malibu Boats, Inc. will post 2.55 EPS for the current year.

Insider Activity at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks bought 12,500 shares of Malibu Boats stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the acquisition, the insider now owns 12,500 shares of the company's stock, valued at approximately $535,250. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.62% of the company's stock.

Hedge Funds Weigh In On Malibu Boats

Several hedge funds and other institutional investors have recently made changes to their positions in MBUU. Cooke & Bieler LP lifted its holdings in shares of Malibu Boats by 35.2% during the 4th quarter. Cooke & Bieler LP now owns 920,761 shares of the company's stock valued at $50,476,000 after acquiring an additional 239,707 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Malibu Boats by 272.7% during the 3rd quarter. Invesco Ltd. now owns 127,109 shares of the company's stock valued at $6,231,000 after acquiring an additional 93,004 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in Malibu Boats by 29.3% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 318,826 shares of the company's stock worth $15,629,000 after buying an additional 72,330 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Malibu Boats by 57.8% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 196,943 shares of the company's stock worth $9,654,000 after buying an additional 72,120 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its holdings in Malibu Boats by 27.1% in the 3rd quarter. Epoch Investment Partners Inc. now owns 267,168 shares of the company's stock worth $13,097,000 after buying an additional 56,968 shares in the last quarter. Institutional investors and hedge funds 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.