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

Malibu Boats (NASDAQ:MBUU) had its price objective reduced by Truist Financial from $52.00 to $42.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on MBUU. B. Riley lowered their price target on shares of Malibu Boats from $45.00 to $39.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. Robert W. Baird lowered their target price on Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a report on Friday. KeyCorp dropped their target price 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. StockNews.com raised Malibu Boats from a sell rating to a hold rating in a research report on Monday, February 26th. Finally, Raymond James cut Malibu Boats from an outperform rating to a market perform rating in a research note on Monday, April 15th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $43.00.

Malibu Boats Stock Up 4.9 %

Shares of MBUU stock traded up $1.60 on Friday, hitting $34.24. The stock had a trading volume of 405,079 shares, compared to its average volume of 280,746. 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 has a one year low of $31.47 and a one year high of $62.36. The business has a 50 day moving average price of $39.44 and a 200 day moving average price of $45.11. The company has a market cap of $699.87 million, a PE ratio of -12.22 and a beta of 1.41.

Insider Transactions at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks bought 12,500 shares of Malibu Boats stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average cost of $42.82 per share, with a total value of $535,250.00. Following the transaction, the insider now directly owns 12,500 shares of the company’s stock, valued at approximately $535,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.62% of the company’s stock.

Institutional Trading of Malibu Boats

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in shares of Malibu Boats in the fourth quarter worth $48,000. Benjamin Edwards Inc. increased its position in shares of Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after acquiring an additional 318 shares during the period. Central Pacific Bank Trust Division purchased a new position in Malibu Boats in the 1st quarter worth $142,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Malibu Boats by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock worth $194,000 after acquiring an additional 386 shares during the last quarter. Finally, Andina Capital Management LLC acquired a new stake in Malibu Boats during the 4th quarter worth about $225,000. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.