KeyCorp Issues Positive Forecast for Malibu Boats (NASDAQ:MBUU) Stock Price

Malibu Boats (NASDAQ:MBUU) had its target price hoisted by KeyCorp from $38.00 to $50.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the company. B. Riley cut their price target on Malibu Boats from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Truist Financial reissued a “hold” rating and set a $32.00 price target on shares of Malibu Boats in a research report on Monday, July 8th. Robert W. Baird increased their target price on Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research note on Friday. Finally, StockNews.com cut shares of Malibu Boats from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.57.

Malibu Boats Stock Down 2.1 %

Shares of MBUU stock opened at $43.93 on Friday. The business’s fifty day moving average is $39.14 and its 200 day moving average is $36.69. The stock has a market cap of $879.04 million, a price-to-earnings ratio of -11.04 and a beta of 1.36. Malibu Boats has a twelve month low of $30.20 and a twelve month high of $56.03.

Malibu Boats (NASDAQ:MBUU) last issued 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 2.33%. The company had revenue of $171.60 million during the quarter, compared to analyst estimates of $165.33 million. During the same period last year, the business earned $1.07 EPS. Malibu Boats’s quarterly revenue was down 32.9% compared to the same quarter last year. Equities research analysts expect that Malibu Boats will post 1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several large investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC purchased a new position in shares of Malibu Boats during the 2nd quarter valued at $51,800,000. The Manufacturers Life Insurance Company grew its position in shares of Malibu Boats by 94.4% during the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after purchasing an additional 409,574 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Malibu Boats by 231.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock valued at $13,535,000 after purchasing an additional 218,378 shares during the period. Lodge Hill Capital LLC purchased a new position in Malibu Boats in the 2nd quarter worth approximately $4,866,000. Finally, Dimensional Fund Advisors LP boosted its stake in Malibu Boats by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,131,877 shares of the company’s stock worth $39,661,000 after purchasing an additional 111,699 shares during the period. 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.