Malibu Boats (NASDAQ:MBUU) Price Target Cut to $42.00 by Analysts at Truist Financial

Malibu Boats (NASDAQ:MBUU) had its price objective lowered by equities research analysts at Truist Financial from $52.00 to $42.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 28.68% from the company’s previous close.

A number of other research firms also recently commented on MBUU. B. Riley reduced their price objective on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. StockNews.com raised shares of Malibu Boats from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Raymond James lowered Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. Robert W. Baird cut their price objective on Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, KeyCorp decreased their target price on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Malibu Boats presently has a consensus rating of “Hold” and a consensus target price of $43.00.

Malibu Boats Price Performance

Shares of MBUU traded up $0.85 during trading on Friday, reaching $32.64. The company’s stock had a trading volume of 539,478 shares, compared to its average volume of 379,978. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82. The company has a fifty day moving average of $39.44 and a two-hundred day moving average of $45.15. Malibu Boats has a twelve month low of $31.47 and a twelve month high of $62.36.

Insider Buying and Selling at Malibu Boats

In related news, insider Michael K. Hooks purchased 12,500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average cost of $42.82 per share, for a total transaction of $535,250.00. Following the transaction, the insider now owns 12,500 shares of the company’s stock, valued at $535,250. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently modified their holdings of MBUU. International Assets Investment Management LLC bought a new stake in Malibu Boats in the 4th quarter valued at about $48,000. Central Pacific Bank Trust Division acquired a new stake in shares of Malibu Boats in the first quarter valued at approximately $142,000. Benjamin Edwards Inc. raised its holdings in shares of Malibu Boats by 13.8% during the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after buying an additional 318 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Malibu Boats by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock worth $194,000 after buying an additional 386 shares during the period. Finally, Hsbc Holdings PLC bought a new position in Malibu Boats in the 3rd quarter worth approximately $203,000. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Company Profile

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.