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

Malibu Boats (NASDAQ:MBUU) had its target price lifted by KeyCorp from $38.00 to $50.00 in a research note released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

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

Malibu Boats Stock Performance

Shares of MBUU stock opened at $42.33 on Friday. The company has a 50-day simple moving average of $39.26 and a 200 day simple moving average of $36.75. The company has a quick ratio of 0.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.05. Malibu Boats has a 52 week low of $30.20 and a 52 week high of $56.03.

Malibu Boats (NASDAQ:MBUU) last posted 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 negative net margin of 10.90% and a positive return on equity of 2.39%. The business had revenue of $171.60 million during the quarter, compared to analysts’ expectations of $165.33 million. During the same quarter in the prior year, the business posted $1.07 earnings per share. Malibu Boats’s revenue was down 32.9% compared to the same quarter last year. As a group, equities analysts forecast that Malibu Boats will post 1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Malibu Boats

Several hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC bought a new position in Malibu Boats in the 2nd quarter worth about $51,800,000. The Manufacturers Life Insurance Company boosted its position in shares of Malibu Boats by 94.4% in the second quarter. The Manufacturers Life Insurance Company now owns 843,605 shares of the company’s stock valued at $29,560,000 after acquiring an additional 409,574 shares during the period. Lord Abbett & CO. LLC grew its stake in Malibu Boats by 231.4% during the first quarter. Lord Abbett & CO. LLC now owns 312,731 shares of the company’s stock valued at $13,535,000 after acquiring an additional 218,378 shares in the last quarter. Lodge Hill Capital LLC bought a new stake in Malibu Boats during the 2nd quarter worth approximately $4,866,000. Finally, Dimensional Fund Advisors LP lifted 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 in the last quarter. 91.35% of the stock is currently owned by hedge funds and other 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.