Truist Financial Lowers Malibu Boats (NASDAQ:MBUU) Price Target to $31.00

Key Points

• Truist Financial cut its price target on Malibu Boats to $31.00 from $34.00 and kept a Hold rating, implying about an 18.8% upside from the stock's prior close.
• Analysts are mixed but consensus remains a Hold with an average price target of $31.20 (ratings: 1 Strong Buy, 1 Buy, 3 Hold, 1 Sell).
• Malibu opened at $26.10, has a market cap of about $485M, and recently reported a slight EPS beat with revenue of $188.6M that was down 5.8% year‑over‑year and a low net margin of 1.76%.

Malibu Boats (NASDAQ:MBUU - Get Free Report) had its price objective lowered by equities researchers at Truist Financial from $34.00 to $31.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price objective would indicate a potential upside of 18.77% from the stock's previous close.

Several other analysts have also recently commented on MBUU. Griffin Securities set a $30.00 price target on shares of Malibu Boats in a report on Tuesday, March 3rd. Wall Street Zen cut shares of Malibu Boats from a "hold" rating to a "sell" rating in a report on Saturday, February 7th. Weiss Ratings restated a "sell (d)" rating on shares of Malibu Boats in a report on Friday, March 27th. Finally, Zacks Research upgraded shares of Malibu Boats from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $31.20.

Malibu Boats Price Performance

NASDAQ MBUU opened at $26.10 on Monday. Malibu Boats has a 12 month low of $23.92 and a 12 month high of $39.65. The company has a market capitalization of $485.46 million, a P/E ratio of 35.75 and a beta of 1.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.56 and a quick ratio of 0.49. The company's 50 day simple moving average is $26.86 and its 200 day simple moving average is $28.85.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The business had revenue of $188.62 million for the quarter, compared to the consensus estimate of $181.96 million. Malibu Boats had a net margin of 1.76% and a return on equity of 4.25%. The firm's quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. Equities research analysts expect that Malibu Boats will post 1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Several hedge funds have recently modified their holdings of MBUU. Wellington Management Group LLP boosted its position in shares of Malibu Boats by 27.1% in the fourth quarter. Wellington Management Group LLP now owns 1,688,099 shares of the company's stock valued at $47,621,000 after acquiring an additional 359,550 shares during the period. Cooke & Bieler LP boosted its position in shares of Malibu Boats by 12.4% in the third quarter. Cooke & Bieler LP now owns 1,544,091 shares of the company's stock valued at $50,106,000 after acquiring an additional 170,178 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Malibu Boats by 31.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 665,373 shares of the company's stock valued at $18,770,000 after acquiring an additional 159,748 shares during the period. Lodge Hill Capital LLC boosted its position in shares of Malibu Boats by 12.7% in the third quarter. Lodge Hill Capital LLC now owns 885,014 shares of the company's stock valued at $28,719,000 after acquiring an additional 100,000 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Malibu Boats by 31.5% in the second quarter. Bank of America Corp DE now owns 361,357 shares of the company's stock valued at $11,325,000 after acquiring an additional 86,526 shares during the period. 91.35% of the stock is owned by institutional investors.

About Malibu Boats

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company's product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu's vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.

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