Malibu Boats (NASDAQ:MBUU) Price Target Lowered to $40.00 at Robert W. Baird

Malibu Boats (NASDAQ:MBUU) had its price target cut by Robert W. Baird from $50.00 to $40.00 in a report issued on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also commented on the stock. StockNews.com raised shares of Malibu Boats from a sell rating to a hold rating in a research note on Monday, February 26th. Raymond James downgraded Malibu Boats from an outperform rating to a market perform rating in a report on Monday, April 15th. Truist Financial reduced their price target on shares of Malibu Boats from $62.00 to $52.00 and set a buy rating for the company in a research report on Wednesday, January 31st. KeyCorp cut their target price on Malibu Boats from $58.00 to $50.00 and set an overweight rating on the stock in a research note on Wednesday, January 31st. Finally, B. Riley reduced their target price on Malibu Boats from $45.00 to $39.00 and set a neutral rating for the company in a report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Malibu Boats presently has a consensus rating of Hold and a consensus price target of $43.00.

Malibu Boats Stock Up 2.7 %

Shares of NASDAQ:MBUU traded up $0.85 during trading on Friday, hitting $32.64. The stock had a trading volume of 539,478 shares, compared to its average volume of 379,978. The company has a market capitalization of $666.84 million, a PE ratio of -12.22 and a beta of 1.41. The company has a quick ratio of 0.69, a current ratio of 1.82 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $39.44 and its 200 day moving average is $45.19. Malibu Boats has a 12 month low of $31.47 and a 12 month high of $62.36.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a positive return on equity of 17.56% and a negative net margin of 5.19%. The business had revenue of $211.07 million during the quarter, compared to the consensus estimate of $219.64 million. During the same quarter in the prior year, the company earned $1.78 earnings per share. The firm’s quarterly revenue was down 37.7% compared to the same quarter last year. Analysts anticipate that Malibu Boats will post 2.55 EPS for the current fiscal year.

Insider Activity at Malibu Boats

In other news, insider Michael K. Hooks bought 12,500 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $535,250. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MBUU. Central Pacific Bank Trust Division bought a new position in Malibu Boats in the 1st quarter worth $142,000. BNP Paribas Financial Markets lifted its position in shares of Malibu Boats by 54.8% during the 1st quarter. BNP Paribas Financial Markets now owns 19,453 shares of the company’s stock valued at $842,000 after buying an additional 6,888 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Malibu Boats by 74.1% in the 1st quarter. Principal Financial Group Inc. now owns 9,293 shares of the company’s stock worth $402,000 after acquiring an additional 3,954 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Malibu Boats by 36.5% during the 1st quarter. Benjamin Edwards Inc. now owns 3,573 shares of the company’s stock worth $155,000 after acquiring an additional 955 shares during the period. Finally, Denali Advisors LLC purchased a new position in Malibu Boats during the first quarter valued at approximately $221,000. Hedge funds and other 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.