Malibu Boats (NASDAQ:MBUU) Price Target Raised to $50.00 at KeyCorp

Malibu Boats (NASDAQ:MBUUFree Report) had its target price hoisted by KeyCorp from $38.00 to $50.00 in a research note issued to investors on Friday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other research analysts have also issued reports on MBUU. B. Riley decreased their target price on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Robert W. Baird lifted their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday. 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. Truist Financial reiterated a “hold” rating and issued a $32.00 price objective on shares of Malibu Boats in a report on Monday, July 8th. Finally, StockNews.com cut Malibu Boats from a “hold” rating to a “sell” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Malibu Boats has an average rating of “Hold” and a consensus price target of $44.57.

View Our Latest Analysis on MBUU

Malibu Boats Trading Down 2.1 %

Malibu Boats stock traded down $0.95 during mid-day trading on Friday, hitting $43.93. The company had a trading volume of 392,848 shares, compared to its average volume of 255,583. The company has a market capitalization of $879.04 million, a price-to-earnings ratio of -15.97 and a beta of 1.38. The company’s fifty day moving average is $39.14 and its 200-day moving average is $36.66. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03.

Malibu Boats (NASDAQ:MBUUGet Free Report) last issued its quarterly earnings data on Thursday, August 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Malibu Boats had a positive return on equity of 6.21% and a negative net margin of 6.74%. The firm had revenue of $158.70 million during the quarter, compared to analyst estimates of $157.54 million. During the same quarter last year, the company posted $2.96 EPS. The company’s revenue was down 57.4% on a year-over-year basis. As a group, sell-side analysts expect that Malibu Boats will post 1.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

A number of institutional investors have recently added to or reduced their stakes in the stock. Studio Investment Management LLC increased its stake in shares of Malibu Boats by 264.4% in the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after acquiring an additional 513 shares during the last quarter. nVerses Capital LLC acquired a new stake in Malibu Boats during the third quarter worth about $74,000. EntryPoint Capital LLC purchased a new position in Malibu Boats during the first quarter worth about $84,000. Central Pacific Bank Trust Division acquired a new position in Malibu Boats in the 1st quarter valued at about $142,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Malibu Boats in the 2nd quarter valued at approximately $139,000. Hedge funds and other institutional investors own 91.35% of the company’s stock.

About Malibu Boats

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Malibu Boats (NASDAQ:MBUU)

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