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

Malibu Boats (NASDAQ:MBUU) had its price objective raised by equities researchers at KeyCorp from $38.00 to $50.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 13.82% from the stock’s previous close.

A number of other research firms also recently issued reports on MBUU. DA Davidson downgraded shares of Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Friday. Truist Financial reiterated a “hold” rating and issued a $32.00 price target on shares of Malibu Boats in a research report on Monday, July 8th. B. Riley cut their price objective on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Robert W. Baird raised their price target on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, StockNews.com lowered Malibu Boats from a “hold” rating to a “sell” rating in a research note 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.57.

Malibu Boats Trading Down 2.1 %

NASDAQ MBUU opened at $43.93 on Friday. The stock has a market capitalization of $879.04 million, a price-to-earnings ratio of -11.04 and a beta of 1.36. The business’s 50 day moving average is $39.14 and its two-hundred day moving average is $36.67. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $56.03.

Malibu Boats (NASDAQ:MBUU) last released its earnings results on Thursday, August 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). The business had revenue of $158.70 million during the quarter, compared to analyst estimates of $157.54 million. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.33%. Malibu Boats’s revenue was down 57.4% compared to the same quarter last year. During the same period last year, the business posted $2.96 EPS. Equities analysts forecast that Malibu Boats will post 1.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Studio Investment Management LLC boosted its holdings 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 valued at $25,000 after purchasing an additional 513 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Malibu Boats during the 3rd quarter worth about $74,000. EntryPoint Capital LLC acquired a new stake in shares of Malibu Boats in the first quarter worth $84,000. Central Pacific Bank Trust Division acquired a new stake in Malibu Boats in the 1st quarter valued at $142,000. Finally, SG Americas Securities LLC acquired a new position in shares of Malibu Boats during the second quarter worth about $139,000. Hedge funds and other institutional investors 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.