Robert W. Baird Cuts Malibu Boats (NASDAQ:MBUU) Price Target to $40.00

Malibu Boats (NASDAQ:MBUU) had its price target trimmed by Robert W. Baird from $50.00 to $40.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. B. Riley cut their target price 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. StockNews.com raised Malibu Boats from a sell rating to a hold rating in a research report on Monday, February 26th. Truist Financial reduced their price objective on Malibu Boats from $62.00 to $52.00 and set a buy rating for the company in a research note on Wednesday, January 31st. KeyCorp lowered their target price on Malibu Boats from $58.00 to $50.00 and set an overweight rating on the stock in a research note on Wednesday, January 31st. Finally, Raymond James downgraded 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, Malibu Boats has an average rating of Hold and an average price target of $43.00.

Malibu Boats Trading Up 4.9 %

Shares of Malibu Boats stock traded up $1.60 during trading on Friday, hitting $34.24. The stock had a trading volume of 405,079 shares, compared to its average volume of 280,746. Malibu Boats has a 1 year low of $31.47 and a 1 year high of $62.36. The stock has a 50 day simple moving average of $39.44 and a 200 day simple moving average of $45.11. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $699.87 million, a PE ratio of -12.22 and a beta of 1.41.

Insider Buying and Selling at Malibu Boats

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

Institutional Trading of Malibu Boats

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBUU. Vanguard Group Inc. boosted its stake in shares of Malibu Boats by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company’s stock valued at $66,926,000 after purchasing an additional 35,474 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Malibu Boats by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 998,994 shares of the company’s stock valued at $54,765,000 after acquiring an additional 38,450 shares during the last quarter. Cooke & Bieler LP boosted its position in shares of Malibu Boats by 35.2% in the 4th quarter. Cooke & Bieler LP now owns 920,761 shares of the company’s stock worth $50,476,000 after purchasing an additional 239,707 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Malibu Boats by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 435,541 shares of the company’s stock worth $23,876,000 after purchasing an additional 7,844 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Malibu Boats by 0.7% during the third quarter. The Manufacturers Life Insurance Company now owns 427,697 shares of the company’s stock worth $20,966,000 after purchasing an additional 2,789 shares during the period. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.