Malibu Boats (NASDAQ:MBUU) Shares Gap Down After Earnings Miss

Malibu Boats, Inc. (NASDAQ:MBUU) shares gapped down prior to trading on Friday following a weaker than expected 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.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on MBUU shares. Benchmark reaffirmed a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. KeyCorp lowered their target price on Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Truist Financial upped their price target on Malibu Boats from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Friday. StockNews.com upgraded Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. Finally, DA Davidson lowered Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Malibu Boats presently has a consensus rating of “Hold” and an average target price of $42.83.

Institutional Investors Weigh In On Malibu Boats

Several institutional investors and hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC raised its holdings in shares of Malibu Boats by 5.2% during the third quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after purchasing an additional 77,015 shares during the period. Wellington Management Group LLP raised its stake in Malibu Boats by 154.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after buying an additional 897,387 shares during the period. Geode Capital Management LLC raised its stake in Malibu Boats by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after buying an additional 43,769 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its holdings in Malibu Boats by 15.8% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 394,288 shares of the company’s stock worth $14,821,000 after acquiring an additional 53,907 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Malibu Boats by 1,267.7% in the third quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock valued at $9,259,000 after acquiring an additional 221,133 shares during the period. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.52. The company has a fifty day moving average price of $39.00 and a 200 day moving average price of $38.80. The stock has a market cap of $755.08 million, a P/E ratio of -9.62 and a beta of 1.32.

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.