Malibu Boats (NASDAQ:MBUU) Stock Price Down 6.2%

Malibu Boats, Inc. (NASDAQ:MBUU) shares traded down 6.2% during trading on Friday . The stock traded as low as $39.21 and last traded at $39.23. 155,117 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 238,876 shares. The stock had previously closed at $41.82.

Wall Street Analyst Weigh In

Several analysts have commented on the company. KeyCorp dropped their price objective on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. B. Riley decreased their target price on Malibu Boats from $56.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Raymond James decreased their target price on Malibu Boats from $59.00 to $46.00 and set an “outperform” rating on the stock 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 research report on Friday, January 19th. Finally, StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Malibu Boats presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Malibu Boats Stock Performance

The stock has a market cap of $786.15 million, a PE ratio of 12.33 and a beta of 1.37. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average of $43.01 and a 200 day moving average of $46.73.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The company had revenue of $211.07 million for the quarter, compared to the consensus estimate of $219.64 million. During the same quarter in the previous year, the business earned $1.78 earnings per share. The company’s revenue for the quarter was down 37.7% on a year-over-year basis. Equities analysts predict that Malibu Boats, Inc. will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks bought 12,500 shares of Malibu Boats stock in a transaction on Thursday, February 22nd. The shares were bought at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the transaction, the insider now directly owns 12,500 shares of the company’s stock, valued at $535,250. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On Malibu Boats

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MBUU. Raymond James Financial Services Advisors Inc. grew its stake in shares of Malibu Boats by 828.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,686 shares of the company’s stock valued at $2,285,000 after buying an additional 37,197 shares in the last quarter. Invesco Ltd. grew its stake in shares of Malibu Boats by 272.7% in the third quarter. Invesco Ltd. now owns 127,109 shares of the company’s stock valued at $6,231,000 after buying an additional 93,004 shares in the last quarter. UBS Group AG grew its stake in shares of Malibu Boats by 33.7% in the third quarter. UBS Group AG now owns 147,563 shares of the company’s stock valued at $7,234,000 after buying an additional 37,217 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Malibu Boats by 2.7% in the third quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock valued at $66,926,000 after buying an additional 35,474 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Malibu Boats by 1.8% in the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $2,226,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

About Malibu Boats

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.