Truist Financial Lowers Malibu Boats (NASDAQ:MBUU) Price Target to $34.00

Malibu Boats (NASDAQ:MBUU) had its price target decreased by Truist Financial from $42.00 to $34.00 in a report published on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird lifted their target price on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. KeyCorp lifted their price objective on shares of Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Friday, November 1st. StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. Finally, Benchmark reissued a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Malibu Boats presently has a consensus rating of “Hold” and an average target price of $43.43.

Malibu Boats Stock Down 2.8 %

Shares of MBUU stock opened at $35.61 on Tuesday. The firm’s fifty day moving average price is $41.20 and its two-hundred day moving average price is $38.50. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. Malibu Boats has a 1 year low of $30.20 and a 1 year high of $54.31. The firm has a market capitalization of $702.05 million, a P/E ratio of -8.95 and a beta of 1.32.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.16. The company had revenue of $171.60 million for the quarter, compared to analyst estimates of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. Malibu Boats’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS. On average, equities analysts predict that Malibu Boats will post 2.01 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division grew its position in Malibu Boats by 11.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after acquiring an additional 368 shares during the last quarter. Meros Investment Management LP acquired a new stake in shares of Malibu Boats during the third quarter valued at about $4,117,000. Geode Capital Management LLC increased its stake in shares of Malibu Boats by 8.2% in the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after buying an additional 43,769 shares during the period. Barclays PLC raised its holdings in Malibu Boats by 92.6% in the 3rd quarter. Barclays PLC now owns 46,919 shares of the company’s stock valued at $1,820,000 after buying an additional 22,556 shares during the last quarter. Finally, MML Investors Services LLC boosted its position in Malibu Boats by 22.2% during the 3rd quarter. MML Investors Services LLC now owns 17,743 shares of the company’s stock worth $689,000 after buying an additional 3,228 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.