Malibu Boats (NASDAQ:MBUU) Given New $38.00 Price Target at KeyCorp

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

A number of other analysts have also recently commented on the company. Truist Financial cut their target price on Malibu Boats from $52.00 to $42.00 and set a buy rating on the stock in a research report on Friday. Robert W. Baird lowered their target price on shares of Malibu Boats from $50.00 to $40.00 and set an outperform rating on the stock in a report on Friday. Raymond James lowered Malibu Boats from an outperform rating to a market perform rating in a report on Monday, April 15th. B. Riley reduced their price target 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. Finally, StockNews.com upgraded shares of Malibu Boats from a sell rating to a hold rating in a research report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $43.00.

Malibu Boats Stock Up 4.9 %

Shares of NASDAQ MBUU traded up $1.60 during midday trading on Friday, hitting $34.24. 405,079 shares of the company’s stock were exchanged, compared to its average volume of 280,746. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.67 and a quick ratio of 0.66. Malibu Boats has a twelve month low of $31.47 and a twelve month high of $62.36. The firm’s fifty day simple moving average is $39.44 and its 200-day simple moving average is $45.11. The company has a market cap of $699.87 million, a PE ratio of -12.22 and a beta of 1.41.

Insider Transactions at Malibu Boats

In other news, insider Michael K. Hooks bought 12,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average price of $42.82 per share, for a total transaction of $535,250.00. Following the acquisition, the insider now owns 12,500 shares of the company’s stock, valued at $535,250. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.62% of the company’s stock.

Institutional Trading of Malibu Boats

A number of institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in shares of Malibu Boats in the fourth quarter valued at about $48,000. Central Pacific Bank Trust Division acquired a new stake in Malibu Boats in the first quarter valued at approximately $142,000. Benjamin Edwards Inc. lifted its position in shares of Malibu Boats by 13.8% during the fourth quarter. Benjamin Edwards Inc. now owns 2,618 shares of the company’s stock worth $144,000 after purchasing an additional 318 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Malibu Boats by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock worth $194,000 after purchasing an additional 386 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Malibu Boats in the third quarter valued at $203,000. 91.35% of the stock is 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.