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

Malibu Boats (NASDAQ:MBUU) had its target price dropped by equities researchers at Truist Financial from $42.00 to $34.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential downside of 2.94% from the company’s current price.

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

Malibu Boats Stock Down 1.6 %

NASDAQ:MBUU opened at $35.03 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $54.31. The stock’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 issued its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.16. The firm had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The company’s revenue was down 32.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 earnings per share. Equities research analysts expect that Malibu Boats will post 2.01 earnings per share for the current year.

Hedge Funds Weigh In On Malibu Boats

A number of large investors have recently bought and sold shares of the company. Pzena Investment Management LLC raised its holdings in shares of Malibu Boats by 5.2% in the third quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after purchasing an additional 77,015 shares during the last quarter. Wellington Management Group LLP increased its stake in Malibu Boats by 154.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after buying an additional 897,387 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Malibu Boats by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after buying an additional 111,699 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Malibu Boats by 94.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after buying an additional 409,574 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Malibu Boats by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after buying an additional 43,769 shares during the last quarter. Institutional investors and hedge funds 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.