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

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

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

Malibu Boats Trading Up 2.7 %

Malibu Boats stock traded up $0.85 during trading on Friday, hitting $32.64. The company’s stock had a trading volume of 539,478 shares, compared to its average volume of 379,978. The stock’s fifty day moving average is $39.44 and its 200 day moving average is $45.19. Malibu Boats has a 1-year low of $31.47 and a 1-year high of $62.36. The stock has a market capitalization of $666.84 million, a price-to-earnings ratio of -12.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 1.82.

Malibu Boats (NASDAQ:MBUU) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 17.56%. The company 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 posted $1.78 EPS. The company’s quarterly revenue was down 37.7% compared to the same quarter last year. As a group, equities research analysts predict that Malibu Boats will post 2.55 EPS for the current year.

Insider Activity

In related news, insider Michael K. Hooks purchased 12,500 shares of Malibu Boats stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased at an average cost of $42.82 per share, with a total value of $535,250.00. Following the transaction, the insider now owns 12,500 shares of the company’s stock, valued at approximately $535,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.62% of the company’s stock.

Institutional Trading of Malibu Boats

Several large investors have recently modified their holdings of MBUU. Central Pacific Bank Trust Division acquired a new position in Malibu Boats during the 1st quarter worth $142,000. BNP Paribas Financial Markets boosted its position in 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 purchasing an additional 6,888 shares during the period. Principal Financial Group Inc. grew its position in shares of Malibu Boats by 74.1% during the first 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 during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Malibu Boats by 36.5% in the first quarter. Benjamin Edwards Inc. now owns 3,573 shares of the company’s stock valued at $155,000 after purchasing an additional 955 shares during the period. Finally, Denali Advisors LLC acquired a new stake in Malibu Boats in the 1st quarter valued at approximately $221,000. 91.35% of the stock is currently owned by institutional investors and hedge funds.

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.