Malibu Boats (NASDAQ:MBUU) Share Price Crosses Below 200-Day Moving Average - What's Next?

Key Points

• Malibu Boats shares fell below their 200-day moving average, reaching $23.71 and last trading at $24.22 versus the $26.99 average, signaling weakened technical momentum.
• Analysts maintain a cautious outlook: the stock has a consensus “Hold” rating and a $31.60 average price target, with ratings spanning Buy, Hold, and Sell.
• Despite the share-price decline, the latest quarter exceeded expectations, with EPS of $0.92 versus $0.78 expected and revenue up 42.8% year over year to $295.54 million; institutional investors own 91.35% of the stock.

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $26.99 and traded as low as $23.71. Malibu Boats shares last traded at $24.22, with a volume of 377,683 shares traded.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MBUU. Weiss Ratings raised Malibu Boats from a "sell (e+)" rating to a "sell (d)" rating in a research note on Thursday, August 27th. Raymond James Financial reiterated a "market perform" rating on shares of Malibu Boats in a report on Monday, August 31st. Truist Financial increased their price target on Malibu Boats from $31.00 to $34.00 and gave the stock a "hold" rating in a report on Monday, July 6th. DA Davidson reissued a "neutral" rating and set a $30.00 price objective on shares of Malibu Boats in a research report on Monday, June 15th. Finally, Zacks Research lowered shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Malibu Boats currently has a consensus rating of "Hold" and a consensus price target of $31.60.

Malibu Boats Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.60 and a current ratio of 1.43. The stock's 50-day moving average is $27.78 and its two-hundred day moving average is $26.99. The stock has a market cap of $476.65 million, a PE ratio of 346.00 and a beta of 1.15.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.14. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%.The company had revenue of $295.54 million for the quarter, compared to analyst estimates of $263.89 million. During the same quarter in the previous year, the company earned $0.42 earnings per share. The firm's quarterly revenue was up 42.8% compared to the same quarter last year. On average, equities analysts predict that Malibu Boats, Inc. will post 2.27 earnings per share for the current year.

Institutional Investors Weigh In On Malibu Boats

Institutional investors and hedge funds have recently modified their holdings of the company. Central Pacific Bank Trust Division increased its stake in Malibu Boats by 13.5% in the second quarter. Central Pacific Bank Trust Division now owns 5,304 shares of the company's stock valued at $145,000 after purchasing an additional 630 shares during the period. State of Wyoming boosted its stake in shares of Malibu Boats by 10.9% during the first quarter. State of Wyoming now owns 11,619 shares of the company's stock worth $301,000 after buying an additional 1,145 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Malibu Boats during the second quarter worth about $35,000. Quantinno Capital Management LP grew its holdings in shares of Malibu Boats by 10.6% during the first quarter. Quantinno Capital Management LP now owns 29,284 shares of the company's stock worth $759,000 after buying an additional 2,796 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Malibu Boats by 16.8% during the first quarter. First Trust Advisors LP now owns 27,967 shares of the company's stock worth $725,000 after buying an additional 4,024 shares during the last quarter. Hedge funds and other institutional investors own 91.35% of the company's stock.

Malibu Boats Company Profile

Malibu Boats, Inc is a designer, manufacturer and marketer of recreational powerboats. The company produces boats for water sports, cruising, fishing and general recreation, serving consumers through a network of dealers primarily in the United States and selected international markets.

Its portfolio includes Malibu and Axis wake and watersports boats, Cobalt luxury bowriders and runabouts, and a range of saltwater fishing and offshore boats sold under brands associated with Pursuit and Maverick Boat Group, including Pathfinder, Hewes and Cobia.

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