Malibu Boats (NASDAQ:MBUU) Given New $38.00 Price Target at KeyCorp

Malibu Boats (NASDAQ:MBUU - Get Free Report) had its price objective dropped by research analysts at KeyCorp from $50.00 to $38.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price target would suggest a potential upside of 16.42% from the company's current price.

Several other equities analysts also recently commented on the company. Robert W. Baird cut their target price on Malibu Boats from $50.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday. Raymond James downgraded shares of Malibu Boats from an "outperform" rating to a "market perform" rating in a research note on Monday, April 15th. Truist Financial dropped their target price on shares of Malibu Boats from $52.00 to $42.00 and set a "buy" rating for the company in a research report on Friday. B. Riley reduced their price target on shares of Malibu Boats from $45.00 to $39.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 16th. Finally, StockNews.com raised shares of Malibu Boats from a "sell" rating to a "hold" rating in a report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $43.00.

Malibu Boats Stock Performance

Malibu Boats stock traded up $0.85 on Friday, hitting $32.64. The company's stock had a trading volume of 539,477 shares, compared to its average volume of 279,301. The company has a fifty day moving average price of $39.44 and a 200-day moving average price of $45.19. The firm has a market cap of $666.87 million, a P/E ratio of 10.46 and a beta of 1.41. Malibu Boats has a one year low of $31.47 and a one year high of $62.36. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. The firm had revenue of $211.07 million during the quarter, compared to analyst estimates of $219.64 million. Malibu Boats had a net margin of 5.32% and a return on equity of 24.23%. The company's quarterly revenue was down 37.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 earnings per share. On average, equities analysts anticipate that Malibu Boats will post 2.55 earnings per share for the current year.

Insider Transactions at Malibu Boats

In related news, insider Michael K. Hooks acquired 12,500 shares of the company's stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the completion of the acquisition, the insider now owns 12,500 shares of the company's stock, valued at approximately $535,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MBUU. Raymond James Financial Services Advisors Inc. increased its position in shares of Malibu Boats by 828.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,686 shares of the company's stock valued at $2,285,000 after buying an additional 37,197 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Malibu Boats by 272.7% in the third quarter. Invesco Ltd. now owns 127,109 shares of the company's stock worth $6,231,000 after acquiring an additional 93,004 shares in the last quarter. UBS Group AG raised its position in shares of Malibu Boats by 33.7% during the third quarter. UBS Group AG now owns 147,563 shares of the company's stock worth $7,234,000 after purchasing an additional 37,217 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Malibu Boats by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,365,273 shares of the company's stock valued at $66,926,000 after purchasing an additional 35,474 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Malibu Boats by 1.8% in the 3rd quarter. Swiss National Bank now owns 45,400 shares of the company's stock valued at $2,226,000 after purchasing an additional 800 shares during the period. 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.

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