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Malibu Boats (NASDAQ:MBUU) Price Target Raised to $42.00

Malibu Boats logo with Consumer Discretionary background

Malibu Boats (NASDAQ:MBUU - Free Report) had its price target increased by Truist Financial from $32.00 to $42.00 in a research report report published on Friday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other research analysts also recently issued research reports about the stock. Robert W. Baird lifted their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday. Benchmark reiterated a "buy" rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Friday. StockNews.com downgraded shares of Malibu Boats from a "hold" rating to a "sell" rating in a research note on Friday, August 30th. B. Riley decreased their price target on shares of Malibu Boats from $39.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, July 10th. Finally, DA Davidson downgraded shares of Malibu Boats from a "buy" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Malibu Boats presently has an average rating of "Hold" and a consensus price target of $44.57.

Check Out Our Latest Stock Report on MBUU

Malibu Boats Stock Down 2.1 %

MBUU stock traded down $0.95 during mid-day trading on Friday, hitting $43.93. 392,848 shares of the company were exchanged, compared to its average volume of 255,583. The firm has a market capitalization of $879.04 million, a P/E ratio of -16.08 and a beta of 1.38. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03. The business has a fifty day simple moving average of $38.99 and a 200-day simple moving average of $36.60.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its quarterly earnings results on Thursday, August 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.07). The business had revenue of $158.70 million for the quarter, compared to analyst estimates of $157.54 million. Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The firm's revenue for the quarter was down 57.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.96 EPS. Research analysts predict that Malibu Boats will post 1.98 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors have recently modified their holdings of MBUU. US Bancorp DE increased its stake in Malibu Boats by 851.7% in the 3rd quarter. US Bancorp DE now owns 5,434 shares of the company's stock valued at $211,000 after buying an additional 4,863 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Malibu Boats by 37.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company's stock valued at $4,445,000 after buying an additional 31,026 shares during the period. nVerses Capital LLC purchased a new stake in shares of Malibu Boats during the 3rd quarter worth $74,000. Creative Planning purchased a new stake in shares of Malibu Boats during the 3rd quarter worth $223,000. Finally, SG Americas Securities LLC boosted its position in shares of Malibu Boats by 31.6% during the 3rd quarter. SG Americas Securities LLC now owns 5,212 shares of the company's stock worth $202,000 after purchasing an additional 1,252 shares in the last quarter. 91.35% of the stock is owned by institutional investors and hedge funds.

About Malibu Boats

(Get Free Report)

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.

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Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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