Malibu Boats (NASDAQ:MBUU) Price Target Cut to $28.00 by Analysts at Truist Financial

Malibu Boats (NASDAQ:MBUU - Free Report) had its price target lowered by Truist Financial from $38.00 to $28.00 in a research note released on Monday, MarketBeat reports. Truist Financial currently has a hold rating on the stock.

Other analysts also recently issued reports about the company. StockNews.com downgraded Malibu Boats from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Benchmark reaffirmed a "buy" rating and set a $44.00 price target on shares of Malibu Boats in a research note on Tuesday, February 4th. KeyCorp cut Malibu Boats from an "overweight" rating to a "sector weight" rating in a research note on Thursday, March 20th. B. Riley raised Malibu Boats to a "hold" rating in a report on Wednesday, February 12th. Finally, Baird R W lowered shares of Malibu Boats from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $38.17.

Malibu Boats Stock Performance

NASDAQ MBUU traded up $0.90 during trading hours on Monday, hitting $27.01. The company had a trading volume of 245,703 shares, compared to its average volume of 225,757. The company has a market cap of $530.34 million, a PE ratio of -6.21 and a beta of 1.27. Malibu Boats has a 1-year low of $24.43 and a 1-year high of $47.82. The business has a 50 day moving average of $31.00 and a 200-day moving average of $36.89. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.45 and a current ratio of 1.52.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $0.20 earnings per share (EPS) 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, equities research analysts expect that Malibu Boats will post 1.69 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Malibu Boats by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company's stock worth $22,361,000 after buying an additional 43,769 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Malibu Boats during the fourth quarter worth approximately $6,888,000. Wellington Management Group LLP boosted its stake in Malibu Boats by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 1,533,605 shares of the company's stock valued at $57,648,000 after purchasing an additional 56,629 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Malibu Boats by 6.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 121,711 shares of the company's stock valued at $4,575,000 after purchasing an additional 7,186 shares in the last quarter. Finally, Barclays PLC grew its stake in Malibu Boats by 92.6% in the 3rd quarter. Barclays PLC now owns 46,919 shares of the company's stock valued at $1,820,000 after purchasing an additional 22,556 shares during the period. 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.