Malibu Boats (NASDAQ:MBUU) Price Target Cut to $80.00

Malibu Boats (NASDAQ:MBUU – Get Rating) had its price objective reduced by investment analysts at KeyCorp from $94.00 to $80.00 in a research report issued on Thursday, The Fly reports. KeyCorp’s price target would indicate a potential upside of 43.63% from the stock’s previous close.

MBUU has been the subject of a number of other reports. Raymond James raised their price target on Malibu Boats from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, February 9th. Truist Financial cut their price target on Malibu Boats from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, January 26th. Zacks Investment Research raised Malibu Boats from a “sell” rating to a “hold” rating in a report on Tuesday, February 15th. Robert W. Baird cut their price target on Malibu Boats from $80.00 to $70.00 in a report on Wednesday. Finally, StockNews.com started coverage on Malibu Boats in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $79.86.

MBUU stock opened at $55.70 on Thursday. The firm has a market cap of $1.16 billion, a PE ratio of 9.44 and a beta of 1.61. The company has a quick ratio of 0.39, a current ratio of 1.14 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average of $55.90 and a 200-day moving average of $63.99. Malibu Boats has a 12-month low of $48.51 and a 12-month high of $86.65.

Malibu Boats (NASDAQ:MBUU – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.65. The company had revenue of $344.30 million during the quarter, compared to analyst estimates of $304.49 million. Malibu Boats had a return on equity of 34.72% and a net margin of 11.65%. Malibu Boats’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.75 earnings per share. On average, research analysts expect that Malibu Boats will post 6.86 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of MBUU. Selective Wealth Management Inc. bought a new stake in shares of Malibu Boats in the fourth quarter worth about $27,000. Captrust Financial Advisors grew its stake in shares of Malibu Boats by 135.1% in the third quarter. Captrust Financial Advisors now owns 1,900 shares of the company’s stock worth $133,000 after purchasing an additional 1,092 shares during the last quarter. FourThought Financial LLC bought a new stake in shares of Malibu Boats in the third quarter worth about $146,000. Advisor Group Holdings Inc. grew its stake in shares of Malibu Boats by 13.4% in the third quarter. Advisor Group Holdings Inc. now owns 2,918 shares of the company’s stock worth $203,000 after purchasing an additional 345 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC bought a new stake in shares of Malibu Boats in the first quarter worth about $208,000. 92.42% of the stock is currently owned by institutional investors.

About Malibu Boats (Get Rating)

Malibu Boats, Inc engages in the design, engineering, manufacturing, marketing, and sale of a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.

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