Truist Financial Issues Positive Forecast for Malibu Boats (NASDAQ:MBUU) Stock Price

Malibu Boats (NASDAQ:MBUU) had its price target increased by research analysts at Truist Financial from $31.00 to $34.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential upside of 35.62% from the company’s previous close.

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

Malibu Boats Price Performance

MBUU opened at $25.07 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.44 and a debt-to-equity ratio of 0.32. Malibu Boats has a 1-year low of $23.84 and a 1-year high of $39.65. The company has a market capitalization of $492.37 million, a PE ratio of -417.83 and a beta of 1.14. The firm’s 50 day simple moving average is $27.00 and its two-hundred day simple moving average is $28.28.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. As a group, equities analysts forecast that Malibu Boats will post 1.34 EPS for the current year.

Institutional Trading of Malibu Boats

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Intesa Sanpaolo Wealth Management bought a new stake in Malibu Boats in the fourth quarter worth $31,000. BNP Paribas Financial Markets increased its position in Malibu Boats by 43.3% during the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock valued at $67,000 after acquiring an additional 643 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Malibu Boats by 346.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after purchasing an additional 1,801 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Malibu Boats by 108.5% during the fourth quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock valued at $93,000 after buying an additional 1,718 shares during the period. Finally, Strs Ohio bought a new stake in shares of Malibu Boats during the 1st quarter worth approximately $123,000. 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.