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

Malibu Boats (NASDAQ:MBUU - Get Free Report) had its target price dropped by investment analysts at Truist Financial from $42.00 to $34.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price objective points to a potential downside of 4.52% from the stock's current price.

A number of other research analysts also recently weighed in on MBUU. 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 report on Friday, November 1st. Benchmark reiterated a "buy" rating and set a $44.00 price target on shares of Malibu Boats in a research note on Friday, November 1st. StockNews.com raised Malibu Boats to a "sell" rating in a research note on Saturday, November 2nd. KeyCorp upped their target price on Malibu Boats from $38.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. 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, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $43.43.

Malibu Boats Stock Down 2.8 %

MBUU traded down $1.02 on Tuesday, reaching $35.61. 169,851 shares of the company traded hands, compared to its average volume of 110,388. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $54.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.52. The company has a market cap of $702.05 million, a price-to-earnings ratio of -8.95 and a beta of 1.32. The stock's 50 day moving average price is $41.20 and its 200-day moving average price is $38.50.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.16. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The company had revenue of $171.60 million during the quarter, compared to the consensus estimate of $165.33 million. During the same period last year, the business earned $1.07 EPS. The business's quarterly revenue was down 32.9% on a year-over-year basis. On average, sell-side analysts expect that Malibu Boats will post 2.01 EPS for the current fiscal year.

Institutional Trading of Malibu Boats

Several large investors have recently made changes to their positions in the business. Studio Investment Management LLC lifted 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 in the last quarter. nVerses Capital LLC acquired a new position in shares of Malibu Boats during the third quarter worth approximately $74,000. Central Pacific Bank Trust Division grew its stake 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 last quarter. Benjamin Edwards Inc. increased its holdings in shares of Malibu Boats by 43.1% in the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company's stock valued at $179,000 after purchasing an additional 1,539 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Malibu Boats by 31.6% in the 3rd quarter. SG Americas Securities LLC now owns 5,212 shares of the company's stock worth $202,000 after purchasing an additional 1,252 shares during the last quarter. Institutional investors 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.