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

Malibu Boats (NASDAQ:MBUU - Get Free Report) had its price target decreased by equities researchers at KeyCorp from $50.00 to $45.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price objective suggests a potential upside of 28.46% from the company's current price.

A number of other equities analysts have also weighed in on MBUU. StockNews.com upgraded Malibu Boats to a "sell" rating in a research report on Saturday, November 2nd. DA Davidson cut shares of Malibu Boats from a "buy" rating to a "neutral" rating and set a $45.00 price objective on the stock. in a research report on Friday, November 1st. Truist Financial reduced their target price on Malibu Boats from $42.00 to $34.00 and set a "hold" rating for the company in a report on Tuesday. Robert W. Baird lifted their price target on Malibu Boats from $40.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Benchmark reiterated a "buy" rating and issued a $44.00 target price on shares of Malibu Boats in a research report on Friday, November 1st. One equities research 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 presently has a consensus rating of "Hold" and a consensus target price of $42.71.

Malibu Boats Price Performance

NASDAQ MBUU traded down $0.58 on Wednesday, reaching $35.03. The company's stock had a trading volume of 137,382 shares, compared to its average volume of 115,776. The firm's 50 day moving average is $41.20 and its two-hundred day moving average is $38.50. The stock has a market cap of $690.62 million, a PE ratio of -8.80 and a beta of 1.32. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. Malibu Boats has a twelve month low of $30.20 and a twelve month high of $54.31.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last posted its quarterly 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. Malibu Boats had a negative net margin of 10.90% and a positive return on equity of 2.39%. The firm had revenue of $171.60 million for the quarter, compared to analyst estimates of $165.33 million. During the same quarter in the previous year, the business posted $1.07 earnings per share. The firm's quarterly revenue was down 32.9% compared to the same quarter last year. As a group, sell-side analysts predict that Malibu Boats will post 2.01 EPS for the current year.

Hedge Funds Weigh In On Malibu Boats

Several institutional investors have recently modified their holdings of the business. Studio Investment Management LLC raised its holdings in shares of Malibu Boats by 264.4% during the second 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 period. nVerses Capital LLC bought a new stake in Malibu Boats during the 3rd quarter worth about $74,000. Central Pacific Bank Trust Division boosted 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 purchasing an additional 368 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Malibu Boats by 43.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company's stock worth $179,000 after purchasing an additional 1,539 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Malibu Boats by 31.6% during the 3rd quarter. SG Americas Securities LLC now owns 5,212 shares of the company's stock worth $202,000 after purchasing an additional 1,252 shares in the last quarter. 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.