Malibu Boats (NASDAQ:MBUU) Given New $34.00 Price Target at Truist Financial

Malibu Boats (NASDAQ:MBUU) had its price objective raised by Truist Financial from $31.00 to $34.00 in a research report released on Monday, MarketBeat.com reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts have also commented on the company. Weiss Ratings cut Malibu Boats from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. DA Davidson reissued a “neutral” rating and set a $30.00 target price on shares of Malibu Boats in a research note on Monday, June 15th. Wall Street Zen upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research raised Malibu Boats from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.60.

Malibu Boats Stock Up 0.5%

MBUU stock opened at $25.98 on Monday. The stock has a 50-day simple moving average of $26.99 and a two-hundred day simple moving average of $28.26. Malibu Boats has a twelve month low of $23.84 and a twelve month high of $39.65. The firm has a market capitalization of $510.35 million, a PE ratio of -432.43 and a beta of 1.14. The company has a quick ratio of 0.44, a current ratio of 1.31 and a debt-to-equity ratio of 0.32.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $235.70 million during the quarter, compared to the consensus estimate of $203.46 million. Malibu Boats had a negative net margin of 0.11% and a positive return on equity of 3.28%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 earnings per share. On average, equities analysts predict that Malibu Boats will post 1.34 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

Several hedge funds and other institutional investors have recently made changes to their positions in MBUU. AQR Capital Management LLC raised its stake in Malibu Boats by 25.3% during the first quarter. AQR Capital Management LLC now owns 11,815 shares of the company’s stock valued at $362,000 after buying an additional 2,389 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Malibu Boats by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,590 shares of the company’s stock worth $356,000 after acquiring an additional 491 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Malibu Boats by 8.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 57,132 shares of the company’s stock worth $1,753,000 after acquiring an additional 4,496 shares during the last quarter. Strs Ohio bought a new position in shares of Malibu Boats during the first quarter valued at $123,000. Finally, Creative Planning increased its holdings in shares of Malibu Boats by 5.0% during the second quarter. Creative Planning now owns 9,471 shares of the company’s stock valued at $297,000 after acquiring an additional 453 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 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.