Malibu Boats (NASDAQ:MBUU) Sees Unusually-High Trading Volume

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) saw strong trading volume on Friday . 192,753 shares were traded during mid-day trading, a decline of 24% from the previous session's volume of 253,675 shares.The stock last traded at $34.91 and had previously closed at $34.16.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. B. Riley lowered their target price on shares of Malibu Boats from $45.00 to $39.00 and set a "neutral" rating on the stock in a research note on Tuesday. StockNews.com raised shares of Malibu Boats from a "sell" rating to a "hold" rating in a report on Monday, February 26th. Robert W. Baird reaffirmed an "outperform" rating and set a $54.00 target price on shares of Malibu Boats in a report on Friday, January 19th. Truist Financial reduced their target price on shares of Malibu Boats from $62.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, January 31st. Finally, KeyCorp cut their price target on shares of Malibu Boats from $58.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $49.00.

Malibu Boats Stock Performance

The stock has a market capitalization of $704.46 million, a PE ratio of 11.05 and a beta of 1.37. The company's 50-day moving average price is $42.16 and its 200 day moving average price is $46.36. 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 issued its earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. The business had revenue of $211.07 million during the quarter, compared to analysts' expectations of $219.64 million. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The business's revenue for the quarter was down 37.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 earnings per share. On average, equities research analysts expect that Malibu Boats, Inc. will post 2.55 earnings per share for the current fiscal year.

Insider Transactions at Malibu Boats

In related news, insider Michael K. Hooks purchased 12,500 shares of Malibu Boats stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the purchase, the insider now directly owns 12,500 shares of the company's stock, valued at approximately $535,250. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.62% of the company's stock.

Institutional Trading of Malibu Boats

A number of large investors have recently made changes to their positions in MBUU. IFP Advisors Inc purchased a new position in shares of Malibu Boats during the 3rd quarter valued at $25,000. Quarry LP bought a new stake in Malibu Boats in the 2nd quarter valued at $25,000. Public Employees Retirement System of Ohio increased its holdings in Malibu Boats by 44.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 560 shares of the company's stock valued at $27,000 after acquiring an additional 173 shares during the last quarter. Comerica Bank bought a new stake in Malibu Boats in the 3rd quarter valued at $27,000. Finally, Ensign Peak Advisors Inc bought a new stake in Malibu Boats in the 3rd quarter valued at $29,000. 91.35% of the stock is currently owned by 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.