Malibu Boats (NASDAQ:MBUU) Given New $38.00 Price Target at KeyCorp

Malibu Boats (NASDAQ:MBUU) had its price objective trimmed by KeyCorp from $50.00 to $38.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

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

Malibu Boats Trading Up 2.7 %

Shares of Malibu Boats stock traded up $0.85 on Friday, hitting $32.64. The stock had a trading volume of 539,478 shares, compared to its average volume of 379,978. The stock has a 50 day moving average of $39.44 and a 200 day moving average of $45.19. The firm has a market capitalization of $666.84 million, a P/E ratio of -12.22 and a beta of 1.41. Malibu Boats has a twelve month low of $31.47 and a twelve month high of $62.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. The firm had revenue of $211.07 million during the quarter, compared to analysts’ expectations of $219.64 million. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 17.56%. The company’s revenue was down 37.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 EPS. Sell-side analysts expect that Malibu Boats will post 2.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Malibu Boats news, insider Michael K. Hooks bought 12,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was bought at an average cost of $42.82 per share, with a total value of $535,250.00. Following the completion of the transaction, the insider now directly owns 12,500 shares in the company, valued at approximately $535,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of Malibu Boats in the 3rd quarter worth $325,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 acquiring an additional 386 shares during the period. Strs Ohio bought a new stake in Malibu Boats during the 3rd quarter valued at $720,000. Allspring Global Investments Holdings LLC lifted its position in shares of Malibu Boats by 9.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 137,100 shares of the company’s stock worth $6,721,000 after acquiring an additional 11,617 shares in the last quarter. Finally, Kendall Capital Management bought a new position in shares of Malibu Boats in the third quarter worth $322,000. 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.