Malibu Boats (NASDAQ:MBUU) Sees Strong Trading Volume

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) saw unusually-strong trading volume on Friday . Approximately 192,753 shares changed hands during 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.

Wall Street Analyst Weigh In

Several analysts recently commented 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 for the company in a research note on Wednesday, January 31st. KeyCorp cut their price objective on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Robert W. Baird restated an “outperform” rating and issued a $54.00 target price on shares of Malibu Boats in a report on Friday, January 19th. Raymond James downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, StockNews.com raised Malibu Boats from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Malibu Boats has a consensus rating of “Hold” and a consensus target price of $49.00.

Malibu Boats Stock Up 1.7 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.82 and a quick ratio of 0.69. The business has a 50 day simple moving average of $42.41 and a 200 day simple moving average of $46.45. The stock has a market cap of $709.94 million, a PE ratio of 10.95 and a beta of 1.37.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating 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 return on equity of 24.23% and a net margin of 5.32%. The firm’s quarterly revenue was down 37.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 EPS. On average, equities research analysts forecast that Malibu Boats, Inc. will post 2.55 EPS for the current fiscal year.

Insider Transactions at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks acquired 12,500 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the insider now owns 12,500 shares of the company’s stock, valued at approximately $535,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.62% of the stock is currently owned by company insiders.

Institutional Trading of Malibu Boats

Large investors have recently made changes to their positions in the stock. Quarry LP acquired a new stake in Malibu Boats in the 2nd quarter worth approximately $25,000. IFP Advisors Inc acquired a new stake in shares of Malibu Boats in the third quarter worth $25,000. Comerica Bank bought a new stake in shares of Malibu Boats during the 3rd quarter worth $27,000. Public Employees Retirement System of Ohio grew its stake 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 buying an additional 173 shares during the last quarter. Finally, Point72 Middle East FZE bought a new position in Malibu Boats in the 4th quarter worth $31,000. 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.