Malibu Boats (NASDAQ:MBUU) PT Lowered to $40.00

Malibu Boats (NASDAQ:MBUU) had its price target lowered by research analysts at Robert W. Baird from $50.00 to $40.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 22.55% from the company’s current price.

Other research analysts have also issued research reports about the company. Raymond James lowered Malibu Boats from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. B. Riley lowered their price target on Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. StockNews.com upgraded Malibu Boats from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Truist Financial lowered their price target on Malibu Boats from $62.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Finally, KeyCorp lowered their price target on Malibu Boats from $58.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $43.00.

Malibu Boats Stock Performance

Shares of NASDAQ:MBUU opened at $32.64 on Friday. Malibu Boats has a 1 year low of $31.47 and a 1 year high of $62.36. The business has a 50 day simple moving average of $39.44 and a two-hundred day simple moving average of $45.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82.

Insider Transactions at Malibu Boats

In other Malibu Boats news, insider Michael K. Hooks purchased 12,500 shares of Malibu Boats stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average cost of $42.82 per share, with a total value of $535,250.00. Following the completion of the transaction, the insider now owns 12,500 shares in the company, valued at approximately $535,250. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On Malibu Boats

A number of large investors have recently made changes to their positions in the business. Hohimer Wealth Management LLC increased its position in shares of Malibu Boats by 3.0% during the fourth quarter. Hohimer Wealth Management LLC now owns 10,438 shares of the company’s stock worth $572,000 after purchasing an additional 301 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Malibu Boats by 13.8% in the 4th quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after acquiring an additional 318 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Malibu Boats by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock valued at $194,000 after acquiring an additional 386 shares during the period. Howe & Rusling Inc. increased its position in shares of Malibu Boats by 14.7% in the 3rd quarter. Howe & Rusling Inc. now owns 4,427 shares of the company’s stock valued at $217,000 after acquiring an additional 569 shares during the period. Finally, Swiss National Bank increased its position in shares of Malibu Boats by 1.8% in the 3rd quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $2,226,000 after acquiring an additional 800 shares during the period. 91.35% of the stock is owned by institutional investors and hedge funds.

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.