Truist Financial Cuts Malibu Boats (NASDAQ:MBUU) Price Target to $28.00

Malibu Boats (NASDAQ:MBUU) had its price target reduced by analysts at Truist Financial from $38.00 to $28.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 2.90% from the company’s previous close.

MBUU has been the topic of a number of other reports. Baird R W downgraded Malibu Boats from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Benchmark reissued a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research report on Tuesday, February 4th. B. Riley upgraded shares of Malibu Boats to a “hold” rating in a research note on Wednesday, February 12th. StockNews.com lowered shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Finally, Robert W. Baird reissued a “neutral” rating and set a $32.00 target price (down previously from $50.00) on shares of Malibu Boats in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.17.

Malibu Boats Price Performance

Shares of MBUU opened at $27.21 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52. The firm has a market cap of $534.27 million, a PE ratio of -6.26 and a beta of 1.27. Malibu Boats has a twelve month low of $24.43 and a twelve month high of $47.82. The firm’s 50 day moving average price is $32.12 and its 200 day moving average price is $37.28.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Malibu Boats had a negative net margin of 12.09% and a positive return on equity of 1.04%. As a group, research analysts expect that Malibu Boats will post 1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds have recently made changes to their positions in MBUU. Heck Capital Advisors LLC bought a new position in Malibu Boats during the fourth quarter valued at about $38,000. Quarry LP acquired a new stake in shares of Malibu Boats during the 4th quarter worth approximately $45,000. Central Pacific Bank Trust Division increased its position in shares of Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after purchasing an additional 368 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Malibu Boats in the fourth quarter valued at $150,000. Finally, GAMMA Investing LLC raised its stake in shares of Malibu Boats by 2,154.4% in the first quarter. GAMMA Investing LLC now owns 4,847 shares of the company’s stock valued at $158,000 after purchasing an additional 4,632 shares in the last quarter. 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.