KeyCorp Lowers Malibu Boats (NASDAQ:MBUU) Price Target to $45.00

Malibu Boats (NASDAQ:MBUU) had its price target lowered by KeyCorp from $50.00 to $45.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also weighed in on MBUU. Benchmark reiterated a “buy” rating and issued a $44.00 target price on shares of Malibu Boats in a report on Friday, November 1st. Truist Financial dropped their price objective on Malibu Boats from $42.00 to $34.00 and set a “hold” rating on the stock in a research note on Tuesday. StockNews.com raised Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Friday, November 1st. Finally, Robert W. Baird lifted their price objective on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.71.

Malibu Boats Stock Down 1.6 %

Shares of Malibu Boats stock opened at $35.03 on Wednesday. The business has a fifty day simple moving average of $41.20 and a 200 day simple moving average of $38.50. The stock has a market cap of $690.62 million, a PE ratio of -8.80 and a beta of 1.32. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. Malibu Boats has a 12 month low of $30.20 and a 12 month high of $54.31.

Malibu Boats (NASDAQ:MBUU) last posted its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.16. The company had revenue of $171.60 million during the quarter, compared to analyst estimates of $165.33 million. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The company’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 EPS. Research analysts predict that Malibu Boats will post 2.01 EPS for the current year.

Institutional Investors Weigh In On Malibu Boats

Several institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC grew its stake in shares of Malibu Boats by 5.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock worth $60,362,000 after acquiring an additional 77,015 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Malibu Boats by 154.8% during the third quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock worth $57,321,000 after purchasing an additional 897,387 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Malibu Boats by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after purchasing an additional 111,699 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Malibu Boats by 94.4% in the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock valued at $29,560,000 after purchasing an additional 409,574 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Malibu Boats by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after buying an additional 43,769 shares during 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.