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

Malibu Boats (NASDAQ:MBUU) had its target price cut by equities research analysts at KeyCorp from $50.00 to $45.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 28.57% from the stock’s previous close.

Several other analysts have also weighed in on the company. DA Davidson lowered Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a report on Friday, November 1st. StockNews.com raised shares of Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. Robert W. Baird lifted their price target on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a report on Friday, November 1st. Finally, Truist Financial decreased their price objective on shares of Malibu Boats from $42.00 to $34.00 and set a “hold” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Malibu Boats presently has a consensus rating of “Hold” and a consensus target price of $42.71.

Malibu Boats Price Performance

Shares of Malibu Boats stock traded down $0.61 during trading hours on Wednesday, reaching $35.00. The company’s stock had a trading volume of 85,218 shares, compared to its average volume of 102,967. The firm has a 50 day moving average price of $41.20 and a 200-day moving average price of $38.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.55 and a quick ratio of 0.52. The stock has a market cap of $690.03 million, a P/E ratio of -8.79 and a beta of 1.32. Malibu Boats has a one year low of $30.20 and a one year high of $54.31.

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

Hedge Funds Weigh In On Malibu Boats

A number of hedge funds have recently added to or reduced their stakes in MBUU. Pzena Investment Management LLC boosted its holdings in shares of Malibu Boats by 5.2% in the third quarter. Pzena Investment Management LLC now owns 1,555,331 shares of the company’s stock valued at $60,362,000 after purchasing an additional 77,015 shares during the period. Wellington Management Group LLP raised its position in Malibu Boats by 154.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,476,976 shares of the company’s stock valued at $57,321,000 after purchasing an additional 897,387 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 buying an additional 111,699 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Malibu Boats by 94.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock worth $29,560,000 after buying an additional 409,574 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Malibu Boats by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock worth $22,361,000 after buying an additional 43,769 shares in the last quarter. 91.35% of the stock is currently 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.