Malibu Boats (NASDAQ:MBUU) Stock Passes Above Fifty Day Moving Average – Should You Sell?

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $31.04 and traded as high as $35.24. Malibu Boats shares last traded at $34.90, with a volume of 181,310 shares changing hands.

Wall Street Analyst Weigh In

MBUU has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Malibu Boats from $38.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Robert W. Baird reaffirmed a “neutral” rating and issued a $32.00 target price (down from $50.00) on shares of Malibu Boats in a report on Friday, April 4th. DA Davidson assumed coverage on shares of Malibu Boats in a research note on Tuesday, June 3rd. They set a “neutral” rating and a $33.00 target price for the company. Wall Street Zen raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Baird R W cut Malibu Boats from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Malibu Boats presently has a consensus rating of “Hold” and an average target price of $36.17.

Malibu Boats Price Performance

The company has a market cap of $669.73 million, a price-to-earnings ratio of -85.12 and a beta of 1.14. The company’s 50 day moving average price is $31.04 and its 200 day moving average price is $32.71. The company has a current ratio of 1.60, a quick ratio of 0.61 and a debt-to-equity ratio of 0.05.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Malibu Boats had a negative net margin of 1.19% and a positive return on equity of 1.66%. The firm had revenue of $228.66 million during the quarter, compared to the consensus estimate of $226.44 million. During the same quarter last year, the firm earned $0.63 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. Equities research analysts forecast that Malibu Boats, Inc. will post 1.69 earnings per share for the current year.

Institutional Trading of Malibu Boats

Institutional investors have recently modified their holdings of the business. Heck Capital Advisors LLC purchased a new position in Malibu Boats in the fourth quarter worth $38,000. Quarry LP acquired a new position in shares of Malibu Boats during the 4th quarter worth $45,000. Strs Ohio purchased a new position in shares of Malibu Boats in the 1st quarter valued at about $123,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Malibu Boats in the fourth quarter valued at about $150,000. Finally, GAMMA Investing LLC lifted its stake in shares of Malibu Boats by 2,154.4% in the first quarter. GAMMA Investing LLC now owns 4,847 shares of the company’s stock valued at $158,000 after purchasing an additional 4,632 shares during the period. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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.