Truist Financial Cuts Malibu Boats (NASDAQ:MBUU) Price Target to $42.00

Malibu Boats (NASDAQ:MBUU) had its price objective reduced by Truist Financial from $52.00 to $42.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

MBUU has been the topic of a number of other reports. Robert W. Baird cut their price objective on shares of Malibu Boats from $50.00 to $40.00 and set an outperform rating on the stock in a report on Friday. StockNews.com raised shares of Malibu Boats from a sell rating to a hold rating in a research report on Monday, February 26th. B. Riley dropped their target price on shares of Malibu Boats from $45.00 to $39.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. Raymond James downgraded Malibu Boats from an outperform rating to a market perform rating in a research note on Monday, April 15th. Finally, KeyCorp dropped their price target on Malibu Boats from $58.00 to $50.00 and set an overweight rating on the stock in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $43.00.

Malibu Boats Stock Performance

MBUU stock opened at $34.24 on Friday. The stock’s 50 day moving average is $39.25 and its 200-day moving average is $45.00. Malibu Boats has a twelve month low of $31.47 and a twelve month high of $62.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67.

Insiders Place Their Bets

In related news, insider Michael K. Hooks acquired 12,500 shares of the stock in a transaction on Thursday, February 22nd. The shares were acquired at an average price of $42.82 per share, with a total value of $535,250.00. Following the completion of the transaction, the insider now owns 12,500 shares in the company, valued at approximately $535,250. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.62% of the company’s stock.

Institutional Trading of Malibu Boats

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in Malibu Boats in the fourth quarter worth about $48,000. Benjamin Edwards Inc. raised its position in Malibu Boats by 13.8% in 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. Central Pacific Bank Trust Division bought a new stake in Malibu Boats in the first quarter worth about $142,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Malibu Boats by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock valued at $194,000 after purchasing an additional 386 shares during the period. Finally, Andina Capital Management LLC bought a new stake in shares of Malibu Boats in the fourth quarter valued at approximately $225,000. Institutional investors 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.