Malibu Boats (NASDAQ:MBUU) Shares Up 8.5% – What’s Next?

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) were up 8.5% during mid-day trading on Thursday . The company traded as high as $42.29 and last traded at $41.73. Approximately 65,230 shares were traded during trading, a decline of 57% from the average daily volume of 153,146 shares. The stock had previously closed at $38.46.

Analysts Set New Price Targets

MBUU has been the topic of several research analyst reports. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research report on Friday, November 1st. Robert W. Baird raised 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, November 1st. KeyCorp lowered their price objective on shares of Malibu Boats from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Truist Financial reduced their target price on shares of Malibu Boats from $42.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. Finally, Benchmark reiterated a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a report on Friday, November 1st. One investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.71.

Malibu Boats Trading Up 0.9 %

The stock has a market capitalization of $764.90 million, a P/E ratio of -9.71 and a beta of 1.32. The stock’s 50 day moving average price is $39.16 and its 200-day moving average price is $38.78. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, equities research analysts expect that Malibu Boats, Inc. will post 2.06 earnings per share for the current year.

Hedge Funds Weigh In On Malibu Boats

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC lifted its position 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 buying an additional 311 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after acquiring an additional 368 shares during the last quarter. Studio Investment Management LLC lifted its position in Malibu Boats by 53.7% during the third quarter. Studio Investment Management LLC now owns 1,087 shares of the company’s stock valued at $42,000 after acquiring an additional 380 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Malibu Boats in the fourth quarter valued at approximately $38,000. Finally, Bank of Montreal Can grew its holdings in Malibu Boats by 10.4% in the second quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock worth $442,000 after purchasing an additional 1,170 shares during 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.