Shares of Malibu Boats Inc. (NASDAQ:MBUU) saw unusually-strong trading volume on Tuesday . Approximately 120,404 shares were traded during trading, an increase of 19% from the previous session’s volume of 101,512 shares.The stock last traded at $13.30 and had previously closed at $13.20.

Several analysts have recently weighed in on MBUU shares. B. Riley restated a “buy” rating and set a $22.00 price target on shares of Malibu Boats in a report on Tuesday, May 10th. Wunderlich reduced their price target on Malibu Boats from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, May 4th. Zacks Investment Research upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, BMO Capital Markets cut Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Malibu Boats presently has a consensus rating of “Buy” and a consensus target price of $23.00.

The company has a market cap of $240.29 million and a P/E ratio of 11.76. The company has a 50-day moving average price of $13.15 and a 200-day moving average price of $14.37.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The firm earned $68.50 million during the quarter, compared to the consensus estimate of $70.06 million. During the same period last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts predict that Malibu Boats Inc. will post $1.30 EPS for the current year.

A hedge fund recently raised its stake in Malibu Boats stock. Wells Fargo & Company MN boosted its stake in Malibu Boats Inc. (NASDAQ:MBUU) by 20.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 669,294 shares of the company’s stock after buying an additional 115,823 shares during the period. Wells Fargo & Company MN owned approximately 3.72% of Malibu Boats worth $10,956,000 as of its most recent SEC filing.

Malibu Boats, Inc is a designer, manufacturer and marketer of performance sport boats. The Company’s boats are used for water sports, including water skiing, wakeboarding and wake surfing, as well as general recreational boating. The Company sells its boats under two brands: Malibu and Axis. Its flagship Malibu brand boats are designed for consumers seeking a premium boating experience.

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