Malibu Boats (NASDAQ:MBUU) Shares Cross Above 50-Day Moving Average – Time to Sell?

Malibu Boats, Inc. (NASDAQ:MBUU) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $28.01 and traded as high as $31.27. Malibu Boats shares last traded at $31.05, with a volume of 238,688 shares.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Zacks Research raised shares of Malibu Boats from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Truist Financial boosted their price target on Malibu Boats from $30.00 to $37.00 and gave the stock a “hold” rating in a report on Tuesday, October 28th. Loop Capital assumed coverage on Malibu Boats in a research report on Monday, December 22nd. They issued a “buy” rating and a $34.00 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Malibu Boats in a research report on Monday, December 29th. Finally, B. Riley cut their target price on shares of Malibu Boats from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $34.67.

Malibu Boats Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.63 and a quick ratio of 0.68. The stock has a market capitalization of $597.09 million, a PE ratio of 31.68 and a beta of 1.18. The company has a 50-day moving average of $28.01 and a two-hundred day moving average of $31.54.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Malibu Boats had a net margin of 2.31% and a return on equity of 5.28%. The company had revenue of $194.73 million during the quarter, compared to the consensus estimate of $182.09 million. During the same quarter in the prior year, the company posted $0.08 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts predict that Malibu Boats, Inc. will post 1.69 EPS for the current fiscal year.

Malibu Boats announced that its board has approved a share repurchase program on Friday, December 19th that permits the company to buyback $70.00 million in shares. This buyback authorization permits the company to purchase up to 12.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Malibu Boats

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Malibu Boats by 532.3% in the 2nd quarter. GAMMA Investing LLC now owns 999 shares of the company’s stock valued at $31,000 after purchasing an additional 841 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Malibu Boats by 43.3% in the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock valued at $67,000 after buying an additional 643 shares during the period. Tower Research Capital LLC TRC lifted its position in Malibu Boats by 346.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock valued at $73,000 after buying an additional 1,801 shares in the last quarter. Strs Ohio acquired a new position in Malibu Boats during the first quarter valued at approximately $123,000. Finally, Central Pacific Bank Trust Division grew its stake in Malibu Boats by 36.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,618 shares of the company’s stock worth $130,000 after buying an additional 1,223 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

Malibu Boats Company Profile

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.