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

Malibu Boats (NASDAQ:MBUU) had its price objective decreased by KeyCorp from $50.00 to $45.00 in a research note released on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird boosted their price objective on Malibu Boats from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Benchmark restated a “buy” rating and set a $44.00 price target on shares of Malibu Boats in a report on Friday, November 1st. DA Davidson downgraded Malibu Boats from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Friday, November 1st. Truist Financial cut 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. Finally, StockNews.com upgraded shares of Malibu Boats to a “sell” rating in a report on Saturday, November 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Malibu Boats has an average rating of “Hold” and a consensus price target of $42.71.

Malibu Boats Stock Down 2.7 %

NASDAQ MBUU opened at $34.08 on Wednesday. The stock has a 50 day moving average price of $40.86 and a 200-day moving average price of $38.45. Malibu Boats has a one year low of $30.20 and a one year high of $54.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 1.55. The company has a market capitalization of $671.89 million, a P/E ratio of -8.56 and a beta of 1.32.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating 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 analyst estimates of $165.33 million. During the same quarter last year, the business earned $1.07 earnings per share. Malibu Boats’s quarterly revenue was down 32.9% compared to the same quarter last year. As a group, equities analysts predict that Malibu Boats will post 2.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in Malibu Boats by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 576,070 shares of the company’s stock valued at $22,361,000 after buying an additional 43,769 shares during the period. Meros Investment Management LP bought a new stake in shares of Malibu Boats during the third quarter valued at approximately $4,117,000. Empowered Funds LLC boosted its holdings in shares of Malibu Boats by 38.8% in the third quarter. Empowered Funds LLC now owns 66,606 shares of the company’s stock valued at $2,585,000 after purchasing an additional 18,636 shares during the period. Barclays PLC grew its stake in Malibu Boats by 92.6% in the third quarter. Barclays PLC now owns 46,919 shares of the company’s stock worth $1,820,000 after purchasing an additional 22,556 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Malibu Boats by 37.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,525 shares of the company’s stock worth $4,445,000 after purchasing an additional 31,026 shares during the period. 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.