Malibu Boats (NASDAQ:MBUU) PT Lowered to $42.00

Malibu Boats (NASDAQ:MBUU) had its target price decreased by Truist Financial from $52.00 to $42.00 in a research note issued to investors on Friday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. KeyCorp lowered their price target on Malibu Boats from $58.00 to $50.00 and set an overweight rating on the stock in a research report on Wednesday, January 31st. Robert W. Baird cut 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. StockNews.com raised shares of Malibu Boats from a sell rating to a hold rating in a research note on Monday, February 26th. B. Riley cut their target price on shares of Malibu Boats from $45.00 to $39.00 and set a neutral rating for the company in a research note on Tuesday, April 16th. Finally, Raymond James cut shares of Malibu Boats from an outperform rating to a market perform rating in a report on Monday, April 15th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $43.00.

Malibu Boats Price Performance

Shares of Malibu Boats stock traded up $1.60 on Friday, hitting $34.24. The company had a trading volume of 405,079 shares, compared to its average volume of 280,746. Malibu Boats has a 52 week low of $31.47 and a 52 week high of $62.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.67 and a quick ratio of 0.66. The company has a market cap of $699.87 million, a PE ratio of -12.22 and a beta of 1.41. The business has a 50-day simple moving average of $39.44 and a 200-day simple moving average of $45.11.

Insider Transactions at Malibu Boats

In other news, insider Michael K. Hooks purchased 12,500 shares of Malibu Boats stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the transaction, the insider now owns 12,500 shares in the company, valued at $535,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Malibu Boats

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in shares of Malibu Boats during the fourth quarter worth approximately $48,000. Central Pacific Bank Trust Division acquired a new position in Malibu Boats in the 1st quarter valued at approximately $142,000. Benjamin Edwards Inc. lifted its position in Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after buying an additional 318 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Malibu Boats by 10.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock valued at $194,000 after buying an additional 386 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of Malibu Boats during the 3rd quarter valued at $203,000. Hedge funds and other institutional investors 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.