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

Malibu Boats (NASDAQ:MBUU) had its price objective lowered by equities research analysts at KeyCorp from $50.00 to $45.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 28.57% from the company’s previous close.

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

Malibu Boats Stock Down 1.7 %

NASDAQ:MBUU traded down $0.61 during trading hours on Wednesday, reaching $35.00. The company’s stock had a trading volume of 85,218 shares, compared to its average volume of 102,967. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. The company has a market capitalization of $690.03 million, a P/E ratio of -8.79 and a beta of 1.32. The stock has a 50 day moving average price of $41.20 and a two-hundred day moving average price of $38.50. Malibu Boats has a 12 month low of $30.20 and a 12 month high of $54.31.

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

Institutional Trading of Malibu Boats

Several large investors have recently added to or reduced their stakes in the company. Studio Investment Management LLC boosted its holdings in Malibu Boats by 264.4% in the second quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock valued at $25,000 after purchasing 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. Central Pacific Bank Trust Division raised its position in Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock valued at $136,000 after acquiring an additional 368 shares in the last quarter. Benjamin Edwards Inc. raised its position in Malibu Boats by 43.1% during the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock valued at $179,000 after acquiring an additional 1,539 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Malibu Boats by 31.6% in the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock valued at $202,000 after acquiring an additional 1,252 shares during the period. 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.