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

Malibu Boats (NASDAQ:MBUU) had its price objective reduced by KeyCorp from $50.00 to $45.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

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

Malibu Boats Price Performance

Shares of NASDAQ:MBUU opened at $35.03 on Wednesday. The company has a market cap of $690.62 million, a price-to-earnings ratio of -8.80 and a beta of 1.32. The business has a 50 day moving average price of $41.20 and a 200 day moving average price of $38.50. 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 twelve month low of $30.20 and a twelve month high of $54.31.

Malibu Boats (NASDAQ:MBUU) last announced its quarterly earnings data 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 business had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. Malibu Boats’s quarterly revenue was down 32.9% on a year-over-year basis. During the same quarter last year, the company posted $1.07 earnings per share. Research analysts predict that Malibu Boats will post 2.01 earnings per share for the current year.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its holdings in shares of Malibu Boats by 5.2% in the third quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after buying an additional 77,015 shares during the last quarter. Wellington Management Group LLP increased its position in Malibu Boats by 154.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after acquiring an additional 897,387 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Malibu Boats by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after acquiring an additional 111,699 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Malibu Boats by 94.4% during the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after purchasing an additional 409,574 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Malibu Boats by 8.2% during the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after purchasing an additional 43,769 shares during the last quarter. 91.35% of the stock is owned by institutional investors.

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.