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

Malibu Boats (NASDAQ:MBUU) had its price target reduced by Robert W. Baird from $50.00 to $40.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the stock.

MBUU has been the subject of a number of other research reports. B. Riley lowered their target price on shares of Malibu Boats from $45.00 to $39.00 and set a neutral rating for the company in a research note on Tuesday, April 16th. KeyCorp dropped their price objective 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. Truist Financial decreased their target price 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. StockNews.com raised Malibu Boats from a sell rating to a hold rating in a research note on Monday, February 26th. Finally, Raymond James downgraded shares of Malibu Boats from an outperform rating to a market perform rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Malibu Boats has a consensus rating of Hold and an average price target of $43.00.

Malibu Boats Stock Up 4.9 %

Malibu Boats stock opened at $34.24 on Friday. The firm has a market cap of $699.87 million, a price-to-earnings ratio of -12.82 and a beta of 1.41. Malibu Boats has a 52-week low of $31.47 and a 52-week high of $62.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67. The firm has a 50 day moving average price of $39.25 and a two-hundred day moving average price of $45.00.

Insider Transactions at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks purchased 12,500 shares of Malibu Boats stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $42.82 per share, with a total value of $535,250.00. Following the transaction, the insider now owns 12,500 shares in the company, valued at approximately $535,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.62% of the stock is owned by insiders.

Institutional Investors Weigh In On Malibu Boats

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new stake in Malibu Boats during the 4th quarter worth approximately $48,000. Central Pacific Bank Trust Division purchased a new position in shares of Malibu Boats during the first quarter valued at approximately $142,000. Benjamin Edwards Inc. grew its holdings in Malibu Boats by 13.8% during the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after buying an additional 318 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Malibu Boats by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock valued at $194,000 after buying an additional 386 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Malibu Boats during the 3rd quarter valued at $203,000. Institutional investors and hedge funds 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.