Malibu Boats (NASDAQ:MBUU) Price Target Cut to $42.00

Malibu Boats (NASDAQ:MBUU) had its price target lowered by analysts at Truist Financial from $52.00 to $42.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 28.68% from the stock’s current price.

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

Malibu Boats Stock Performance

Shares of MBUU traded up $0.85 during mid-day 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 current ratio of 1.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06. Malibu Boats has a 12-month low of $31.47 and a 12-month high of $62.36. The company’s 50 day moving average is $39.44 and its 200 day moving average is $45.15.

Insider Transactions at Malibu Boats

In related news, insider Michael K. Hooks acquired 12,500 shares of Malibu Boats stock in a transaction on Thursday, February 22nd. The stock was purchased at an average cost of $42.82 per share, with a total value of $535,250.00. Following the purchase, the insider now directly owns 12,500 shares in the company, valued at $535,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MBUU. International Assets Investment Management LLC purchased a new position in Malibu Boats in the 4th quarter valued at $48,000. Central Pacific Bank Trust Division purchased a new stake in shares of Malibu Boats in the first quarter valued at about $142,000. Benjamin Edwards Inc. increased its stake 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 worth $144,000 after acquiring an additional 318 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 purchasing an additional 386 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Malibu Boats in the third quarter valued at about $203,000. Institutional investors and hedge funds 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.