Malibu Boats (NASDAQ:MBUU) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Malibu Boats, Inc. (NASDAQ:MBUU)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-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 changing hands.

Wall Street Analysts Forecast Growth

Several brokerages 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. Benchmark reiterated a “buy” rating on shares of Malibu Boats in a research note on Friday, August 28th. Weiss Ratings upgraded shares of Malibu Boats from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, August 27th. Truist Financial raised their price target on shares of Malibu Boats from $31.00 to $34.00 and gave the stock a “hold” rating in a report on Monday, July 6th. 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 equities 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 company. According to data from MarketBeat.com, Malibu Boats presently has a consensus rating of “Hold” and an average target price of $31.60.

Malibu Boats Stock Performance

The company has a quick ratio of 0.60, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $27.74 and a two-hundred day moving average of $26.94. The company has a market capitalization of $464.99 million, a PE ratio of 337.57 and a beta of 1.15.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, August 27th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.14. The firm had revenue of $295.54 million for the quarter, compared to analysts’ expectations of $263.89 million. Malibu Boats had a return on equity of 4.78% and a net margin of 0.18%.The company’s quarterly revenue was up 42.8% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. Research analysts anticipate that Malibu Boats, Inc. will post 2.27 EPS for the current year.

Institutional Trading of Malibu Boats

Several large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Malibu Boats during the 2nd quarter worth approximately $35,000. Central Pacific Bank Trust Division grew its holdings in shares of Malibu Boats by 13.5% during the 2nd quarter. Central Pacific Bank Trust Division now owns 5,304 shares of the company’s stock worth $145,000 after purchasing an additional 630 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Malibu Boats during the 2nd quarter worth about $206,000. Hennion & Walsh Asset Management Inc. acquired a new position in Malibu Boats in the second quarter valued at about $222,000. Finally, MQS Management LLC acquired a new position in Malibu Boats in the fourth quarter valued at about $233,000. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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.