Malibu Boats (NASDAQ:MBUU) Price Target Lowered to $31.00 at Truist Financial

Malibu Boats (NASDAQ:MBUU) had its price objective trimmed by Truist Financial from $34.00 to $31.00 in a research note released on Monday morning, MarketBeat.com reports. The firm currently has a hold rating on the stock.

Several other analysts have also issued reports on the stock. Griffin Securities set a $30.00 price target on shares of Malibu Boats in a research report on Tuesday, March 3rd. Zacks Research upgraded shares of Malibu Boats from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Wall Street Zen lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Malibu Boats in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Malibu Boats presently has an average rating of “Hold” and a consensus price target of $31.20.

Malibu Boats Stock Performance

NASDAQ MBUU opened at $25.50 on Monday. The company has a 50-day simple moving average of $26.74 and a two-hundred day simple moving average of $28.82. The company has a quick ratio of 0.49, a current ratio of 1.56 and a debt-to-equity ratio of 0.04. Malibu Boats has a 12-month low of $23.92 and a 12-month high of $39.65. The firm has a market cap of $474.30 million, a price-to-earnings ratio of 34.93 and a beta of 1.22.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. Malibu Boats had a net margin of 1.76% and a return on equity of 4.25%. The business had revenue of $188.62 million during the quarter, compared to analyst estimates of $181.96 million. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. On average, equities analysts forecast that Malibu Boats will post 1.08 EPS for the current year.

Institutional Investors Weigh In On Malibu Boats

Several institutional investors and hedge funds have recently bought and sold shares of MBUU. Intesa Sanpaolo Wealth Management purchased a new stake in Malibu Boats in the 4th quarter worth approximately $31,000. BNP Paribas Financial Markets lifted its holdings in Malibu Boats by 43.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after buying an additional 643 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Malibu Boats by 346.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock worth $73,000 after buying an additional 1,801 shares during the period. Russell Investments Group Ltd. lifted its holdings in Malibu Boats by 108.5% in the 4th quarter. Russell Investments Group Ltd. now owns 3,301 shares of the company’s stock worth $93,000 after buying an additional 1,718 shares during the period. Finally, Strs Ohio purchased a new stake in Malibu Boats in the 1st quarter worth approximately $123,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

Malibu Boats Company Profile

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.