Malibu Boats (NASDAQ:MBUU) PT 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 research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently weighed in on MBUU. Truist Financial dropped their price target on Malibu Boats from $62.00 to $52.00 and set a buy rating for the company in a research report on Wednesday, January 31st. StockNews.com upgraded Malibu Boats from a sell rating to a hold rating in a research report on Monday, February 26th. B. Riley lowered their target price on Malibu Boats from $45.00 to $39.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. KeyCorp cut their price target on Malibu Boats from $58.00 to $50.00 and set an overweight rating for the company in a report on Wednesday, January 31st. Finally, Raymond James lowered Malibu Boats from an outperform rating to a market perform rating in a research note on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $43.00.

Malibu Boats Price Performance

MBUU stock traded up $1.60 during trading on Friday, reaching $34.24. 405,079 shares of the company were exchanged, compared to its average volume of 280,746. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 1.67. The stock’s 50 day moving average price is $39.44 and its 200 day moving average price is $45.11. Malibu Boats has a 52-week low of $31.47 and a 52-week high of $62.36. The company has a market cap of $699.87 million, a P/E ratio of -12.22 and a beta of 1.41.

Insider Activity

In related news, insider Michael K. Hooks bought 12,500 shares of the firm’s stock in a transaction that occurred 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 $535,250. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Malibu Boats during the third quarter worth approximately $325,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Malibu Boats by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,966 shares of the company’s stock valued at $194,000 after purchasing an additional 386 shares in the last quarter. Strs Ohio purchased a new position in Malibu Boats in the third quarter valued at about $720,000. Allspring Global Investments Holdings LLC raised its position in Malibu Boats by 9.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 137,100 shares of the company’s stock valued at $6,721,000 after purchasing an additional 11,617 shares during the period. Finally, Kendall Capital Management acquired a new position in shares of Malibu Boats during the third quarter worth about $322,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

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.