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

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

Several other brokerages also recently commented on MBUU. StockNews.com raised Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. Robert W. Baird raised their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research report on Friday, November 1st. KeyCorp raised their target price on shares of 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 target for the company. in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.71.

Malibu Boats Trading Down 1.6 %

Shares of MBUU opened at $35.03 on Tuesday. The company’s fifty day simple moving average is $41.06 and its 200-day simple moving average is $38.48. The company has a market cap of $690.62 million, a P/E ratio of -8.80 and a beta of 1.32. 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 twelve month low of $30.20 and a twelve month high of $54.31.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data 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. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The company had revenue of $171.60 million for the quarter, compared to analyst estimates of $165.33 million. During the same period in the prior year, the company posted $1.07 EPS. The firm’s revenue for the quarter was down 32.9% on a year-over-year basis. As a group, analysts expect that Malibu Boats will post 2.01 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Institutional investors have recently bought and sold shares of the business. Pzena Investment Management LLC boosted its position in Malibu Boats by 5.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after acquiring an additional 77,015 shares in the last quarter. Wellington Management Group LLP boosted its position in Malibu Boats by 154.8% during the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after purchasing an additional 897,387 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Malibu Boats by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after purchasing an additional 111,699 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Malibu Boats by 94.4% in the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after purchasing an additional 409,574 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Malibu Boats by 8.2% in the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after purchasing an additional 43,769 shares in the last quarter. 91.35% of the stock is owned by hedge funds and other 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.