Malibu Boats (NASDAQ:MBUU) Given New $42.00 Price Target at Truist Financial

Malibu Boats (NASDAQ:MBUU) had its price objective raised by Truist Financial from $32.00 to $42.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts have also weighed in on MBUU. Robert W. Baird lifted their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday. KeyCorp boosted their price objective on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday. B. Riley decreased their target price on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research note on Friday. Finally, StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Malibu Boats has an average rating of “Hold” and a consensus price target of $44.57.

Malibu Boats Stock Performance

Shares of MBUU opened at $42.33 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03. The stock has a 50-day moving average price of $39.26 and a 200-day moving average price of $36.75.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The firm had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $165.33 million. During the same period last year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was down 32.9% compared to the same quarter last year. Equities analysts expect that Malibu Boats will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently bought and sold shares of MBUU. Bessemer Group Inc. increased its stake in Malibu Boats by 7.2% during the 1st quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock valued at $13,307,000 after purchasing an additional 20,700 shares in the last quarter. PAX Financial Group LLC acquired a new stake in Malibu Boats during the first quarter valued at $579,000. Assenagon Asset Management S.A. purchased a new position in shares of Malibu Boats in the 2nd quarter valued at about $3,667,000. Lord Abbett & CO. LLC raised its stake in shares of Malibu Boats by 231.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock worth $13,535,000 after buying an additional 218,378 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Malibu Boats by 54.8% during the first quarter. BNP Paribas Financial Markets now owns 19,453 shares of the company’s stock valued at $842,000 after purchasing an additional 6,888 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.