Malibu Boats (NASDAQ:MBUU) PT Lowered to $38.00 at KeyCorp

Malibu Boats (NASDAQ:MBUU) had its price target lowered by KeyCorp from $50.00 to $38.00 in a report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also weighed in on MBUU. Raymond James lowered shares of Malibu Boats from an outperform rating to a market perform rating in a research note on Monday, April 15th. B. Riley lowered their price objective on shares of Malibu Boats from $45.00 to $39.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. Truist Financial dropped their price objective on Malibu Boats from $52.00 to $42.00 and set a buy rating on the stock in a research note on Friday. Robert W. Baird decreased their target price on Malibu Boats from $50.00 to $40.00 and set an outperform rating for the company in a research note on Friday. Finally, StockNews.com upgraded Malibu Boats from a sell rating to a hold rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Malibu Boats has a consensus rating of Hold and a consensus target price of $43.00.

Malibu Boats Trading Up 4.9 %

NASDAQ MBUU opened at $34.24 on Friday. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. Malibu Boats has a 12 month low of $31.47 and a 12 month high of $62.36. The company has a market capitalization of $699.87 million, a PE ratio of -12.82 and a beta of 1.41. The stock has a 50-day simple moving average of $39.25 and a 200 day simple moving average of $45.00.

Insider Transactions at Malibu Boats

In other news, insider Michael K. Hooks bought 12,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $42.82 per share, with a total value of $535,250.00. Following the transaction, the insider now owns 12,500 shares in the company, valued at $535,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in shares of Malibu Boats during the 4th quarter worth about $48,000. Central Pacific Bank Trust Division bought a new stake in Malibu Boats during the first quarter worth about $142,000. Benjamin Edwards Inc. boosted its position in Malibu Boats by 13.8% during the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock valued at $144,000 after purchasing an additional 318 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Malibu Boats by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock valued at $194,000 after purchasing an additional 386 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Malibu Boats during the 3rd quarter worth approximately $203,000. 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.