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 released on Monday morning, MarketBeat Ratings reports. The brokerage currently has a $32.00 price objective on the stock.

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

Malibu Boats Stock Up 1.8 %

MBUU opened at $31.06 on Monday. The firm has a 50-day simple moving average of $35.32 and a two-hundred day simple moving average of $41.29. Malibu Boats has a 52 week low of $30.20 and a 52 week high of $60.72. The company has a market capitalization of $634.87 million, a PE ratio of -11.63 and a beta of 1.40. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 EPS 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 business had revenue of $203.42 million during the quarter, compared to the consensus estimate of $205.83 million. Analysts forecast that Malibu Boats will post 1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark W. Lanigan acquired 20,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $33.43 per share, with a total value of $668,600.00. Following the completion of the purchase, the director now directly owns 73,368 shares in the company, valued at $2,452,692.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.62% of the stock is owned by insiders.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors have recently modified their holdings of the stock. First Hawaiian Bank increased its position in shares of Malibu Boats by 204.8% during the second quarter. First Hawaiian Bank now owns 18,904 shares of the company’s stock worth $662,000 after acquiring an additional 12,701 shares during the period. NBW Capital LLC increased its position in shares of Malibu Boats by 2.1% during the first quarter. NBW Capital LLC now owns 96,386 shares of the company’s stock worth $4,172,000 after acquiring an additional 1,996 shares during the period. Janus Henderson Group PLC increased its position in shares of Malibu Boats by 16.8% during the first quarter. Janus Henderson Group PLC now owns 15,499 shares of the company’s stock worth $671,000 after acquiring an additional 2,233 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Malibu Boats by 9.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,124 shares of the company’s stock worth $439,000 after acquiring an additional 836 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Malibu Boats during the first quarter worth approximately $662,000. 91.35% of the stock is owned by hedge funds and other institutional investors.

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.