Malibu Boats (NASDAQ:MBUU) Price Target Lowered to $38.00 at KeyCorp

Malibu Boats (NASDAQ:MBUU) had its target price dropped by equities research analysts at KeyCorp from $50.00 to $38.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 16.42% from the stock’s previous close.

Several other equities analysts have also issued reports on MBUU. StockNews.com upgraded shares of Malibu Boats from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Raymond James downgraded Malibu Boats from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. Truist Financial reduced their price target on Malibu Boats from $52.00 to $42.00 and set a “buy” rating for the company in a report on Friday. B. Riley dropped their price target on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, Robert W. Baird cut their price objective on shares of Malibu Boats from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.00.

Malibu Boats Stock Up 2.7 %

Shares of NASDAQ:MBUU traded up $0.85 during trading on Friday, hitting $32.64. The stock had a trading volume of 539,477 shares, compared to its average volume of 279,301. The company has a market capitalization of $666.87 million, a PE ratio of 10.46 and a beta of 1.41. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $39.44 and its 200 day moving average is $45.19. Malibu Boats has a 12 month low of $31.47 and a 12 month high of $62.36.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. The company had revenue of $211.07 million for the quarter, compared to analysts’ expectations of $219.64 million. Malibu Boats had a return on equity of 24.23% and a net margin of 5.32%. The firm’s revenue for the quarter was down 37.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share. Analysts anticipate that Malibu Boats will post 2.55 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael K. Hooks acquired 12,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average cost of $42.82 per share, with a total value of $535,250.00. Following the completion of the acquisition, the insider now directly owns 12,500 shares of the company’s stock, valued at $535,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently made changes to their positions in MBUU. Hohimer Wealth Management LLC increased its holdings in Malibu Boats by 3.0% during the fourth quarter. Hohimer Wealth Management LLC now owns 10,438 shares of the company’s stock valued at $572,000 after buying an additional 301 shares during the last quarter. Benjamin Edwards Inc. increased its stake 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 worth $144,000 after purchasing an additional 318 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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 purchasing an additional 386 shares in the last quarter. Howe & Rusling Inc. raised its holdings in Malibu Boats by 14.7% in the 3rd quarter. Howe & Rusling Inc. now owns 4,427 shares of the company’s stock worth $217,000 after purchasing an additional 569 shares during the period. Finally, Swiss National Bank lifted its position in Malibu Boats by 1.8% during the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $2,226,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 91.35% of the company’s stock.

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.