Malibu Boats (NASDAQ:MBUU) Sets New 12-Month Low at $31.85

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $31.85 and last traded at $32.34, with a volume of 71337 shares trading hands. The stock had previously closed at $33.06.

Analysts Set New Price Targets

A number of research analysts have issued reports on MBUU shares. Truist Financial cut their target price on shares of Malibu Boats from $62.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, January 31st. StockNews.com raised Malibu Boats from a "sell" rating to a "hold" rating in a research note on Monday, February 26th. KeyCorp lowered their price target on Malibu Boats from $58.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, January 31st. Robert W. Baird reaffirmed an "outperform" rating and issued a $54.00 price target on shares of Malibu Boats in a research note on Friday, January 19th. Finally, Raymond James cut Malibu Boats from an "outperform" rating to a "market perform" rating in a research note on Monday, April 15th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $49.00.

Malibu Boats Trading Down 3.8 %

The company has a current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $39.84 and a 200-day moving average of $45.41. The firm has a market capitalization of $649.47 million, a P/E ratio of 10.60 and a beta of 1.41.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. IFP Advisors Inc bought a new position in Malibu Boats in the third quarter valued at about $25,000. International Assets Investment Management LLC bought a new position in Malibu Boats in the fourth quarter valued at about $48,000. Benjamin Edwards Inc. grew its position in Malibu Boats by 13.8% in the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company's stock valued at $144,000 after acquiring an additional 318 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Malibu Boats by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company's stock valued at $194,000 after acquiring an additional 386 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Malibu Boats in the third quarter valued at about $203,000. Institutional investors own 91.35% of the company's stock.

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.