MarineMax Inc. (HZO) Stock Rating Upgraded by Zacks Investment Research
MarineMax Inc. (NYSE:HZO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $24.00 price objective on the stock. Zacks Investment Research’s price target indicates a potential upside of 15.94% from the company’s current price.
According to Zacks, “MarineMax, Inc. is a recreational boat dealer in the United States. Through retail locations, the company sells new and used recreational boats and fishing boats with a focus on premium brands in each segment. “
A number of other research firms have also recently commented on HZO. B. Riley reaffirmed a “buy” rating and set a $22.50 price objective on shares of MarineMax in a research report on Monday, August 1st. Forward View raised shares of MarineMax from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Five research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $24.50.
Shares of MarineMax (NYSE:HZO) opened at 20.70 on Wednesday. The company has a market cap of $500.59 million, a price-to-earnings ratio of 10.22 and a beta of 1.28. The stock has a 50 day moving average of $19.88 and a 200 day moving average of $18.54. MarineMax has a 12-month low of $13.56 and a 12-month high of $22.03.
MarineMax (NYSE:HZO) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.12. MarineMax had a net margin of 5.55% and a return on equity of 7.88%. The firm earned $345.60 million during the quarter, compared to analysts’ expectations of $268.34 million. During the same period in the previous year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. On average, equities analysts expect that MarineMax will post $0.90 earnings per share for the current fiscal year.
In other news, VP Michael H. Mclamb sold 10,000 shares of MarineMax stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $21.10, for a total transaction of $211,000.00. Following the completion of the sale, the vice president now owns 138,648 shares of the company’s stock, valued at $2,925,472.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael H. Mclamb sold 8,221 shares of MarineMax stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $20.31, for a total value of $166,968.51. Following the sale, the vice president now directly owns 132,869 shares of the company’s stock, valued at approximately $2,698,569.39. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
Several large investors have recently bought and sold shares of HZO. Global Alpha Capital Management Ltd. increased its stake in MarineMax by 3.3% in the first quarter. Global Alpha Capital Management Ltd. now owns 237,467 shares of the company’s stock worth $4,623,000 after buying an additional 7,500 shares in the last quarter. Goldman Sachs Group Inc. increased its position in MarineMax by 34.1% in the first quarter. Goldman Sachs Group Inc. now owns 42,966 shares of the company’s stock worth $836,000 after buying an additional 10,937 shares during the period. Geode Capital Management LLC increased its position in MarineMax by 9.0% in the first quarter. Geode Capital Management LLC now owns 170,362 shares of the company’s stock worth $3,316,000 after buying an additional 14,070 shares during the period. Friess Associates LLC bought a new position in MarineMax during the first quarter worth approximately $613,000. Finally, BNP Paribas Arbitrage SA increased its position in MarineMax by 97.7% in the second quarter. BNP Paribas Arbitrage SA now owns 7,555 shares of the company’s stock worth $128,000 after buying an additional 3,733 shares during the period. 96.25% of the stock is owned by institutional investors.
MarineMax, Inc is a recreational boat dealer in the United States. The Company engages in the retail sale, brokerage, and service of used boats, motors, trailers, marine parts and accessories and offers slip and storage accommodations in certain locations. It offers related boat financing, insurance and extended service contracts.
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