Malibu Boats (NASDAQ:MBUU) Share Price Breaks Above 50 Day Moving Average - Should You Sell?

Key Points

• Malibu Boats shares rose 3.8%, trading above their 50-day moving average of $24.02 and reaching as high as $25.33. However, the stock remained below its 200-day moving average of $27.03.
• Analyst sentiment is mixed but leans toward caution: two analysts rate the stock Buy, five Hold and one Sell, resulting in an overall “Hold” rating and an average price target of $30.
• The company exceeded quarterly expectations, reporting EPS of $0.92 versus $0.78 expected and revenue of $295.54 million, up 42.8% year over year. Institutional investors own a substantial 91.35% of outstanding shares.

Shares of Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $24.02 and traded as high as $25.33. Malibu Boats shares last traded at $24.71, with a volume of 446,974 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MBUU. Raymond James Financial restated a "market perform" rating on shares of Malibu Boats in a research note on Monday, August 31st. Weiss Ratings upgraded shares of Malibu Boats from a "sell (e+)" rating to a "sell (d)" rating in a research report on Thursday, August 27th. Zacks Research downgraded shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 9th. Wall Street Zen lowered shares of Malibu Boats from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Benchmark reissued a "buy" rating on shares of Malibu Boats in a report on Friday, August 28th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Malibu Boats has an average rating of "Hold" and an average price target of $30.00.

Malibu Boats Stock Up 3.8%

The firm has a market capitalization of $486.29 million, a price-to-earnings ratio of 353.00 and a beta of 1.19. The business's 50-day moving average is $24.02 and its two-hundred day moving average is $27.03. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.60 and a current ratio of 1.43.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.14. Malibu Boats had a net margin of 0.18% and a return on equity of 4.78%. The business had revenue of $295.54 million during the quarter, compared to analysts' expectations of $263.89 million. During the same quarter in the prior year, the company earned $0.42 EPS. The firm's quarterly revenue was up 42.8% on a year-over-year basis. On average, equities analysts anticipate that Malibu Boats, Inc. will post 2.18 earnings per share for the current year.

Institutional Investors Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Malibu Boats by 44.6% during the first quarter. Bank of America Corp DE now owns 343,042 shares of the company's stock worth $8,892,000 after purchasing an additional 105,734 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Malibu Boats in the second quarter valued at $2,384,000. Parallel Advisors LLC acquired a new stake in Malibu Boats in the 1st quarter valued at $194,403,000. Dimensional Fund Advisors LP increased its stake in Malibu Boats by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 967,068 shares of the company's stock valued at $25,067,000 after buying an additional 52,635 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in Malibu Boats by 10.6% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 865,239 shares of the company's stock worth $19,831,000 after buying an additional 82,777 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company's stock.

About Malibu Boats

Malibu Boats, Inc is a recreational powerboat manufacturer headquartered in Loudon, Tennessee. The company designs, manufactures and sells boats for watersports, boating and fishing activities, serving consumers through a network of independent dealers in the United States and international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, as well as a range of saltwater and freshwater fishing and offshore boats sold under brands including Pursuit, Maverick, Cobia, Pathfinder and Hewes.

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