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

Malibu Boats (NASDAQ:MBUU) had its price target boosted by Truist Financial from $34.00 to $38.00 in a report issued on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

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

Malibu Boats Trading Down 1.5 %

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 stock’s 50 day simple moving average is $39.00 and its 200 day simple moving average is $38.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly 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 negative net margin of 10.90% and a positive return on equity of 2.39%. On average, sell-side analysts anticipate that Malibu Boats will post 2.06 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its position in shares of Malibu Boats by 5.4% in the second quarter. Envestnet Asset Management Inc. now owns 63,880 shares of the company’s stock worth $2,238,000 after acquiring an additional 3,288 shares in the last quarter. Bank of Montreal Can raised its position in Malibu Boats by 10.4% in the second quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock valued at $442,000 after purchasing an additional 1,170 shares during the period. AQR Capital Management LLC lifted its stake in shares of Malibu Boats by 267.9% during the second quarter. AQR Capital Management LLC now owns 88,294 shares of the company’s stock worth $3,094,000 after purchasing an additional 64,297 shares in the last quarter. Truist Financial Corp boosted its position in shares of Malibu Boats by 35.6% in the second quarter. Truist Financial Corp now owns 8,448 shares of the company’s stock worth $296,000 after buying an additional 2,219 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Malibu Boats by 31.6% in the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock valued at $202,000 after buying an additional 1,252 shares in the last quarter. Hedge funds and other institutional investors own 91.35% of the company’s stock.

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.