KeyCorp Has Lowered Expectations for Malibu Boats (NASDAQ:MBUU) Stock Price

Malibu Boats (NASDAQ:MBUU) had its target price dropped by equities research analysts 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 would indicate a potential upside of 28.46% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird upped their target price on shares of Malibu Boats from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $44.00 price objective on shares of Malibu Boats in a research note on Friday, November 1st. StockNews.com upgraded Malibu Boats to a “sell” rating in a research note on Saturday, November 2nd. DA Davidson cut 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, November 1st. Finally, Truist Financial lowered their price objective 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.71.

Malibu Boats Price Performance

Malibu Boats stock opened at $35.03 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $41.06 and a 200-day simple moving average of $38.48. The stock has a market cap of $690.62 million, a P/E ratio of -8.80 and a beta of 1.32. Malibu Boats has a 12-month low of $30.20 and a 12-month high of $54.31.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Studio Investment Management LLC boosted its position in shares of Malibu Boats by 264.4% during the 2nd quarter. Studio Investment Management LLC now owns 707 shares of the company’s stock worth $25,000 after purchasing an additional 513 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Malibu Boats in the third quarter valued at about $74,000. Central Pacific Bank Trust Division lifted its stake in shares of Malibu Boats by 11.3% in 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 period. Benjamin Edwards Inc. boosted its holdings in Malibu Boats by 43.1% during the second quarter. Benjamin Edwards Inc. now owns 5,112 shares of the company’s stock worth $179,000 after buying an additional 1,539 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Malibu Boats by 31.6% during the third quarter. SG Americas Securities LLC now owns 5,212 shares of the company’s stock worth $202,000 after buying an additional 1,252 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.