Malibu Boats (NASDAQ:MBUU) Given New $34.00 Price Target at Truist Financial

Malibu Boats (NASDAQ:MBUU) had its price target reduced by Truist Financial from $42.00 to $34.00 in a research note issued to investors on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

MBUU has been the subject of a number of other research reports. StockNews.com raised Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. Benchmark restated a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research note on Friday, November 1st. KeyCorp increased 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 downgraded 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 report on Friday, November 1st. Finally, Robert W. Baird upped their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 1st. 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, Malibu Boats has an average rating of “Hold” and a consensus price target of $42.71.

Malibu Boats Trading Down 1.6 %

Shares of Malibu Boats stock opened at $35.03 on Tuesday. The firm’s 50 day simple moving average is $41.06 and its two-hundred day simple moving average is $38.48. The firm has a market capitalization of $690.62 million, a price-to-earnings ratio of -8.80 and a beta of 1.32. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $54.31. 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 (NASDAQ:MBUU) last released its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.16. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The firm had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. During the same period in the prior year, the firm earned $1.07 EPS. The firm’s revenue was down 32.9% on a year-over-year basis. Analysts predict that Malibu Boats will post 2.01 EPS for the current year.

Institutional Inflows and Outflows

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