Malibu Boats (NASDAQ:MBUU) Stock Price Expected to Rise, Truist Financial Analyst Says

Malibu Boats (NASDAQ:MBUU) had its price target raised by equities researchers at Truist Financial from $34.00 to $38.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential downside of 1.94% from the company’s previous close.

Other research analysts have also issued research reports about the company. Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research report on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Friday, November 1st. KeyCorp decreased their price target on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Robert W. Baird boosted their price objective on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.29.

Malibu Boats Stock Performance

NASDAQ MBUU traded down $0.13 during mid-day trading on Friday, reaching $38.75. 83,541 shares of the stock were exchanged, compared to its average volume of 161,030. Malibu Boats has a 1 year low of $30.20 and a 1 year high of $50.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. The business’s 50 day moving average is $39.09 and its 200-day moving average is $38.78. The company has a market capitalization of $764.15 million, a P/E ratio of -9.77 and a beta of 1.32.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, January 30th. The company reported $0.20 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%. On average, equities research analysts forecast that Malibu Boats will post 2.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its position in Malibu Boats by 154.8% in the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after purchasing an additional 897,387 shares during the period. Janus Henderson Group PLC lifted its stake in Malibu Boats by 1,267.7% during the 3rd quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock worth $9,259,000 after acquiring an additional 221,133 shares in the last quarter. Meros Investment Management LP purchased a new position in Malibu Boats during the 3rd quarter valued at about $4,117,000. Chartwell Investment Partners LLC purchased a new stake in Malibu Boats during the third quarter worth about $3,132,000. Finally, Pzena Investment Management LLC lifted its position 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 worth $60,362,000 after purchasing an additional 77,015 shares in the last quarter. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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.