Malibu Boats (NASDAQ:MBUU) Shares Gap Up – Should You Buy?

Malibu Boats, Inc. (NASDAQ:MBUU) shares gapped up prior to trading on Thursday . The stock had previously closed at $42.22, but opened at $45.70. Malibu Boats shares last traded at $46.77, with a volume of 29,836 shares traded.

Analyst Upgrades and Downgrades

MBUU has been the subject of several research reports. StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Truist Financial reaffirmed a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a report on Monday, July 8th. DA Davidson reissued a “buy” rating and set a $45.00 price objective on shares of Malibu Boats in a research note on Tuesday, September 10th. Finally, B. Riley decreased their price objective on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Malibu Boats presently has a consensus rating of “Hold” and a consensus price target of $40.00.

Malibu Boats Price Performance

The firm has a market cap of $921.44 million, a P/E ratio of -17.61 and a beta of 1.38. The stock’s 50-day simple moving average is $38.78 and its two-hundred day simple moving average is $36.55.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, August 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a negative net margin of 6.74% and a positive return on equity of 6.21%. The firm had revenue of $158.70 million for the quarter, compared to the consensus estimate of $157.54 million. During the same quarter last year, the firm earned $2.96 EPS. The company’s revenue was down 57.4% on a year-over-year basis. As a group, sell-side analysts expect that Malibu Boats, Inc. will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. US Bancorp DE increased its position in Malibu Boats by 851.7% during the third quarter. US Bancorp DE now owns 5,434 shares of the company’s stock valued at $211,000 after acquiring an additional 4,863 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Malibu Boats by 37.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company’s stock worth $4,445,000 after purchasing an additional 31,026 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Malibu Boats in the third quarter worth about $74,000. Creative Planning bought a new position in shares of Malibu Boats in the third quarter worth about $223,000. Finally, SG Americas Securities LLC grew its holdings in shares of Malibu Boats by 31.6% in the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock worth $202,000 after purchasing an additional 1,252 shares during the last quarter. 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.