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

Malibu Boats (NASDAQ:MBUU) had its price target boosted by stock analysts at Truist Financial from $32.00 to $42.00 in a report released on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential downside of 4.39% from the company’s previous close.

A number of other research firms also recently weighed in on MBUU. DA Davidson downgraded shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Friday. Robert W. Baird raised their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday. Benchmark restated a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Friday. StockNews.com downgraded shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Finally, KeyCorp raised their price target on shares of Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Malibu Boats currently has an average rating of “Hold” and an average price target of $44.57.

Malibu Boats Stock Down 2.1 %

Shares of Malibu Boats stock opened at $43.93 on Friday. The company has a market capitalization of $879.04 million, a price-to-earnings ratio of -11.04 and a beta of 1.36. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03. The firm’s 50-day moving average price is $39.14 and its two-hundred day moving average price is $36.67.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, August 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). The firm had revenue of $158.70 million for the quarter, compared to analyst estimates of $157.54 million. Malibu Boats had a positive return on equity of 2.33% and a negative net margin of 10.90%. The company’s quarterly revenue was down 57.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.96 earnings per share. On average, sell-side analysts expect that Malibu Boats will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Malibu Boats

Hedge funds have recently added to or reduced their stakes in the business. Studio Investment Management LLC boosted its position in Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after buying an additional 513 shares during the period. nVerses Capital LLC acquired a new stake in Malibu Boats during the 3rd quarter worth approximately $74,000. EntryPoint Capital LLC acquired a new stake in Malibu Boats during the 1st quarter worth approximately $84,000. SG Americas Securities LLC bought a new position in Malibu Boats during the 2nd quarter worth approximately $139,000. Finally, Central Pacific Bank Trust Division bought a new position in Malibu Boats during the 1st quarter worth approximately $142,000. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.