Truist Financial Forecasts Strong Price Appreciation for Malibu Boats (NASDAQ:MBUU) Stock

Malibu Boats (NASDAQ:MBUU - Get Free Report) had its price target raised by stock analysts at Truist Financial from $34.00 to $38.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price target indicates a potential upside of 1.88% from the company's current price.

Other analysts also recently issued reports about the stock. KeyCorp reduced their price target on shares of Malibu Boats from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. StockNews.com raised Malibu Boats to a "sell" rating in a research report on Saturday, November 2nd. DA Davidson cut 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. Benchmark restated a "buy" rating and set a $44.00 price objective on shares of Malibu Boats in a research report on Friday, November 1st. Finally, Robert W. Baird raised their target price on Malibu Boats from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. One research 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. According to MarketBeat, Malibu Boats presently has an average rating of "Hold" and a consensus price target of $42.83.

Malibu Boats Stock Performance

Shares of MBUU stock traded up $1.41 during trading on Friday, reaching $37.30. The company had a trading volume of 233,077 shares, compared to its average volume of 181,804. The firm's 50 day simple moving average is $38.81 and its two-hundred day simple moving average is $38.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 0.45. Malibu Boats has a one year low of $30.20 and a one year high of $50.39. The company has a market capitalization of $732.57 million, a PE ratio of -8.57 and a beta of 1.33.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Malibu Boats had a positive return on equity of 1.04% and a negative net margin of 12.09%. Sell-side analysts forecast that Malibu Boats will post 2.06 earnings per share for the current year.

Institutional Trading of Malibu Boats

A number of large investors have recently bought and sold shares of MBUU. Exchange Traded Concepts LLC lifted its holdings in shares of Malibu Boats by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,977 shares of the company's stock valued at $300,000 after acquiring an additional 311 shares during the period. Central Pacific Bank Trust Division lifted its holdings in Malibu Boats by 11.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company's stock valued at $136,000 after purchasing an additional 368 shares during the last quarter. Studio Investment Management LLC boosted its position in Malibu Boats by 53.7% in the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company's stock valued at $42,000 after buying an additional 380 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Malibu Boats during the fourth quarter worth about $38,000. Finally, Bank of Montreal Can increased its holdings in shares of Malibu Boats by 10.4% during the second quarter. Bank of Montreal Can now owns 12,427 shares of the company's stock worth $442,000 after buying an additional 1,170 shares in the last quarter. 91.35% of the stock is currently owned by 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.