Malibu Boats (NASDAQ:MBUU) Price Target Raised to $38.00 at Truist Financial

Malibu Boats (NASDAQ:MBUU) had its target price upped by Truist Financial from $34.00 to $38.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a hold rating on the stock.

Several other equities analysts have also commented on MBUU. StockNews.com raised Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. Benchmark reissued a “buy” rating and set a $44.00 target price on shares of Malibu Boats in a research report on Friday, November 1st. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Friday, November 1st. Robert W. Baird raised their price objective on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, KeyCorp dropped their target price on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.83.

Malibu Boats Trading Down 1.5 %

Shares of MBUU opened at $38.29 on Friday. Malibu Boats has a 1 year low of $30.20 and a 1 year high of $50.39. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The stock has a 50-day simple moving average of $39.00 and a 200-day simple moving average of $38.80.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts forecast that Malibu Boats will post 2.06 earnings per share for the current year.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC raised its stake in Malibu Boats by 5.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after acquiring an additional 77,015 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Malibu Boats by 154.8% during the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after purchasing an additional 897,387 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Malibu Boats by 8.2% during the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after purchasing an additional 43,769 shares during the period. Fort Washington Investment Advisors Inc. OH grew its position in Malibu Boats by 15.8% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 394,288 shares of the company’s stock valued at $14,821,000 after buying an additional 53,907 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Malibu Boats by 1,267.7% in the 3rd quarter. Janus Henderson Group PLC now owns 238,576 shares of the company’s stock valued at $9,259,000 after buying an additional 221,133 shares during the period. 91.35% of the stock is owned by institutional investors and hedge funds.

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.