Truist Financial Boosts Malibu Boats (NASDAQ:MBUU) Price Target to $42.00

Malibu Boats (NASDAQ:MBUU) had its price objective lifted by Truist Financial from $32.00 to $42.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential downside of 4.89% from the stock’s current price.

Several other equities research analysts have also issued reports on MBUU. Robert W. Baird increased their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday. StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. DA Davidson cut shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Friday. B. Riley reduced their target price on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, KeyCorp increased their target price on Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.57.

Malibu Boats Trading Down 1.6 %

NASDAQ:MBUU traded down $0.72 during trading hours on Friday, reaching $44.16. 72,470 shares of the company traded hands, compared to its average volume of 254,072. The business’s 50-day moving average price is $38.99 and its two-hundred day moving average price is $36.60. Malibu Boats has a 1 year low of $30.20 and a 1 year high of $56.03. The stock has a market capitalization of $883.64 million, a P/E ratio of -16.08 and a beta of 1.38.

Malibu Boats (NASDAQ:MBUU) last issued its 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). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The firm had revenue of $158.70 million during the quarter, compared to analysts’ expectations of $157.54 million. During the same period last year, the firm posted $2.96 earnings per share. The firm’s quarterly revenue was down 57.4% on a year-over-year basis. As a group, equities analysts anticipate that Malibu Boats will post 1.98 EPS for the current year.

Institutional Trading of Malibu Boats

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Malibu Boats by 4.7% during the 2nd quarter. Principal Financial Group Inc. now owns 9,728 shares of the company’s stock worth $341,000 after acquiring an additional 435 shares during the last quarter. Studio Investment Management LLC boosted its stake in shares of Malibu Boats by 264.4% during the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after purchasing an additional 513 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Malibu Boats by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock worth $439,000 after purchasing an additional 836 shares during the last quarter. Bank of Montreal Can lifted its holdings in Malibu Boats by 10.4% during the 2nd quarter. Bank of Montreal Can now owns 12,427 shares of the company’s stock valued at $442,000 after buying an additional 1,170 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Malibu Boats by 31.6% in the 3rd 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 during the period. 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.