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

Malibu Boats (NASDAQ:MBUU) had its price target lowered by KeyCorp from $50.00 to $45.00 in a report released on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other analysts have also recently commented on MBUU. DA Davidson cut Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $44.00 price objective on shares of Malibu Boats in a research note on Friday, November 1st. Robert W. Baird boosted 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, November 1st. Truist Financial decreased their price target on shares of Malibu Boats from $42.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, StockNews.com raised shares of Malibu Boats to a “sell” rating in a research report on Saturday, November 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.71.

Malibu Boats Price Performance

MBUU opened at $34.08 on Wednesday. The company’s 50-day simple moving average is $40.86 and its two-hundred day simple moving average is $38.45. 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 stock has a market capitalization of $671.89 million, a P/E ratio of -8.56 and a beta of 1.32. Malibu Boats has a 52-week low of $30.20 and a 52-week high of $54.31.

Malibu Boats (NASDAQ:MBUU) last issued its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.16. The company had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $165.33 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The firm’s quarterly revenue was down 32.9% on a year-over-year basis. During the same quarter last year, the company posted $1.07 earnings per share. As a group, analysts predict that Malibu Boats will post 2.01 EPS for the current year.

Institutional Investors Weigh In On Malibu Boats

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Central Pacific Bank Trust Division grew its position in shares of Malibu Boats by 11.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,626 shares of the company’s stock worth $136,000 after purchasing an additional 368 shares in the last quarter. Meros Investment Management LP purchased a new stake in Malibu Boats during the 3rd quarter valued at approximately $4,117,000. Geode Capital Management LLC raised its position in shares of Malibu Boats by 8.2% during the third quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after buying an additional 43,769 shares during the last quarter. Barclays PLC lifted its holdings in shares of Malibu Boats by 92.6% in the third quarter. Barclays PLC now owns 46,919 shares of the company’s stock worth $1,820,000 after buying an additional 22,556 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Malibu Boats by 22.2% during the third quarter. MML Investors Services LLC now owns 17,743 shares of the company’s stock worth $689,000 after acquiring an additional 3,228 shares during the last quarter. 91.35% of the stock is owned by institutional investors.

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.