Malibu Boats (NASDAQ:MBUU) Shares Gap Down on Disappointing Earnings

Malibu Boats, Inc. (NASDAQ:MBUU) gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $38.88, but opened at $37.79. Malibu Boats shares last traded at $38.70, with a volume of 31,198 shares trading hands.

The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MBUU shares. Truist Financial decreased their price objective on shares of Malibu Boats from $42.00 to $34.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. Benchmark reissued a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a report on Friday, November 1st. KeyCorp cut their price objective on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. Finally, Robert W. Baird lifted their target price on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.71.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently made changes to their positions in the business. Heck Capital Advisors LLC purchased a new stake in Malibu Boats during the fourth quarter valued at approximately $38,000. Studio Investment Management LLC grew its position in shares of Malibu Boats by 53.7% during the 3rd quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after acquiring an additional 380 shares during the period. nVerses Capital LLC purchased a new stake in shares of Malibu Boats in the 3rd quarter worth $74,000. Central Pacific Bank Trust Division raised its holdings in Malibu Boats by 11.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after purchasing an additional 368 shares during the period. Finally, SG Americas Securities LLC lifted its position in Malibu Boats by 31.6% during the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock valued at $202,000 after purchasing an additional 1,252 shares in the last quarter. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Down 0.2 %

The company has a fifty day simple moving average of $39.09 and a 200-day simple moving average of $38.78. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. The firm has a market cap of $765.53 million, a P/E ratio of -9.79 and a beta of 1.32.

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.