Truist Financial Issues Pessimistic Forecast for Malibu Boats (NASDAQ:MBUU) Stock Price

Malibu Boats (NASDAQ:MBUU) had its price target decreased by research analysts at Truist Financial from $42.00 to $34.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential downside of 5.40% from the company’s current price.

MBUU has been the topic of a number of other research reports. Robert W. Baird upped 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, November 1st. StockNews.com upgraded Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. KeyCorp lifted their target price on Malibu Boats from $38.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. 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, November 1st. Finally, Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $43.43.

Malibu Boats Stock Down 1.9 %

Shares of NASDAQ MBUU traded down $0.69 during mid-day trading on Tuesday, hitting $35.94. The company had a trading volume of 28,516 shares, compared to its average volume of 73,276. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The firm has a 50-day simple moving average of $41.34 and a two-hundred day simple moving average of $38.50. The company has a market capitalization of $708.56 million, a PE ratio of -9.03 and a beta of 1.32. Malibu Boats has a one year low of $30.20 and a one year high of $54.31.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16. The company had revenue of $171.60 million during the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The company’s quarterly revenue was down 32.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. On average, equities analysts expect that Malibu Boats will post 2.01 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC raised its holdings in shares of Malibu Boats by 5.2% during the third quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after purchasing an additional 77,015 shares during the period. Wellington Management Group LLP raised its stake in Malibu Boats by 154.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after buying an additional 897,387 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Malibu Boats by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after acquiring an additional 111,699 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Malibu Boats by 94.4% in the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock valued at $29,560,000 after acquiring an additional 409,574 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Malibu Boats by 8.2% during the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after acquiring an additional 43,769 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.