Malibu Boats (NASDAQ:MBUU) Earns “Hold” Rating from Truist Financial

Truist Financial reissued their hold rating on shares of Malibu Boats (NASDAQ:MBUU) in a report published on Monday morning, MarketBeat Ratings reports. The firm currently has a $32.00 price objective on the stock.

Several other research firms have also recently weighed in on MBUU. Robert W. Baird dropped their price target on shares of Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a research note on Friday, May 3rd. KeyCorp cut their target price on Malibu Boats from $50.00 to $38.00 and set an overweight rating for the company in a research note on Friday, May 3rd. Benchmark began coverage on Malibu Boats in a research note on Wednesday, May 22nd. They issued a buy rating and a $44.00 price target on the stock. StockNews.com upgraded Malibu Boats from a sell rating to a hold rating in a report on Monday, June 17th. Finally, Raymond James lowered shares of Malibu Boats from an outperform rating to a market perform rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $41.14.

Malibu Boats Stock Performance

NASDAQ MBUU opened at $32.66 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67. The stock’s fifty day moving average is $35.34 and its two-hundred day moving average is $41.23. The firm has a market capitalization of $667.57 million, a P/E ratio of -12.23 and a beta of 1.40. Malibu Boats has a fifty-two week low of $30.20 and a fifty-two week high of $60.72.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.14. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. The firm had revenue of $203.42 million for the quarter, compared to analysts’ expectations of $205.83 million. On average, research analysts anticipate that Malibu Boats will post 1.84 earnings per share for the current year.

Insider Activity at Malibu Boats

In other Malibu Boats news, Director Mark W. Lanigan purchased 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $33.43 per share, for a total transaction of $668,600.00. Following the completion of the purchase, the director now directly owns 73,368 shares of the company’s stock, valued at $2,452,692.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.62% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently modified their holdings of MBUU. Vanguard Group Inc. boosted its holdings in Malibu Boats by 2.7% in the third quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock valued at $66,926,000 after purchasing an additional 35,474 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Malibu Boats by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock valued at $54,765,000 after buying an additional 38,450 shares during the period. Cooke & Bieler LP grew its position in shares of Malibu Boats by 35.2% during the fourth quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock worth $50,476,000 after buying an additional 239,707 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Malibu Boats by 1.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 435,541 shares of the company’s stock worth $23,876,000 after buying an additional 7,844 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in Malibu Boats by 14.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 365,540 shares of the company’s stock valued at $20,039,000 after acquiring an additional 46,714 shares in the last quarter. 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.