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

Malibu Boats (NASDAQ:MBUU) 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.

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:MBUU) 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

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.