Malibu Boats (NASDAQ:MBUU) Given New $42.00 Price Target at Truist Financial

Malibu Boats (NASDAQ:MBUU) had its price objective boosted by Truist Financial from $32.00 to $42.00 in a research note published on Friday, Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts also recently issued reports on MBUU. B. Riley lowered their target price on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Benchmark reaffirmed a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a research report on Friday. StockNews.com downgraded Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. KeyCorp raised their target price on shares of Malibu Boats from $38.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday. Finally, DA Davidson lowered 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 report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Malibu Boats has a consensus rating of “Hold” and a consensus price target of $44.57.

Malibu Boats Price Performance

MBUU stock opened at $42.33 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. Malibu Boats has a fifty-two week low of $30.20 and a fifty-two week high of $56.03. The business has a 50-day moving average of $39.26 and a 200-day moving average of $36.75.

Malibu Boats (NASDAQ:MBUU) last announced its earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.16. The business had revenue of $171.60 million during the quarter, compared to analysts’ expectations of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The firm’s revenue was down 32.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 earnings per share. On average, equities analysts anticipate that Malibu Boats will post 1.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds have recently added to or reduced their stakes in MBUU. Pzena Investment Management LLC bought a new position in shares of Malibu Boats in the second quarter valued at about $51,800,000. Dimensional Fund Advisors LP raised its holdings in Malibu Boats by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock valued at $39,661,000 after acquiring an additional 111,699 shares during the period. The Manufacturers Life Insurance Company lifted its position in Malibu Boats by 94.4% during the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after acquiring an additional 409,574 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Malibu Boats by 231.4% during the first quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock worth $13,535,000 after acquiring an additional 218,378 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Malibu Boats by 7.2% during the first quarter. Bessemer Group Inc. now owns 307,486 shares of the company’s stock worth $13,307,000 after acquiring an additional 20,700 shares during the period. Institutional investors and hedge funds 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.