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

Malibu Boats (NASDAQ:MBUU) had its price target cut by investment analysts at Truist Financial from $42.00 to $34.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price points to a potential downside of 2.94% from the company’s previous close.

MBUU has been the subject of several other reports. Benchmark reaffirmed a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a research report on Friday, November 1st. KeyCorp lifted their target price on shares of Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. DA Davidson lowered shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Friday, November 1st. Robert W. Baird lifted their price objective on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, StockNews.com raised Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $42.71.

Malibu Boats Trading Down 1.6 %

Shares of MBUU stock opened at $35.03 on Tuesday. 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’s fifty day simple moving average is $41.20 and its 200 day simple moving average is $38.50. The firm has a market capitalization of $690.62 million, a P/E ratio of -8.80 and a beta of 1.32.

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

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors have recently modified their holdings of MBUU. Bank of New York Mellon Corp increased its holdings in shares of Malibu Boats by 8.8% in the second quarter. Bank of New York Mellon Corp now owns 103,596 shares of the company’s stock valued at $3,630,000 after purchasing an additional 8,422 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Malibu Boats by 4.7% in the 2nd quarter. Principal Financial Group Inc. now owns 9,728 shares of the company’s stock valued at $341,000 after buying an additional 435 shares during the period. Rhumbline Advisers raised its position in shares of Malibu Boats by 11.0% during the second quarter. Rhumbline Advisers now owns 34,411 shares of the company’s stock worth $1,206,000 after acquiring an additional 3,406 shares during the last quarter. Studio Investment Management LLC boosted its holdings in Malibu Boats by 264.4% in the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after acquiring an additional 513 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Malibu Boats by 5.4% in the second quarter. Envestnet Asset Management Inc. now owns 63,880 shares of the company’s stock worth $2,238,000 after purchasing an additional 3,288 shares during the period. 91.35% of the stock is owned by institutional investors.

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.