MarineMax, Inc. (HZO) Receives $22.67 Consensus PT from Analysts
Shares of MarineMax, Inc. (NYSE:HZO) have received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $22.67.
Several equities analysts recently weighed in on the company. Ifs Securities restated a “strong-buy” rating and issued a $20.00 price target on shares of MarineMax in a research note on Thursday, August 24th. TheStreet lowered MarineMax from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. BidaskClub lowered MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. B. Riley restated a “buy” rating and issued a $20.00 price target on shares of MarineMax in a research note on Friday, July 21st. Finally, Zacks Investment Research lowered MarineMax from a “hold” rating to a “sell” rating in a research note on Friday, June 30th.
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MarineMax (HZO) traded up 0.31% during mid-day trading on Tuesday, reaching $16.20. The company’s stock had a trading volume of 262,940 shares. The stock has a 50-day moving average price of $15.95 and a 200-day moving average price of $19.26. The company has a market capitalization of $393.27 million, a price-to-earnings ratio of 16.20 and a beta of 1.00. MarineMax has a one year low of $13.80 and a one year high of $23.65.
MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.11. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The business had revenue of $329.80 million during the quarter, compared to analysts’ expectations of $383.01 million. During the same quarter in the prior year, the firm earned $0.57 EPS. MarineMax’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities research analysts forecast that MarineMax will post $0.99 EPS for the current year.
MarineMax declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 2nd that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Dean S. Woodman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the transaction, the director now directly owns 15,193 shares in the company, valued at approximately $227,895. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dean S. Woodman sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $16.00, for a total value of $40,000.00. Following the transaction, the director now owns 14,693 shares in the company, valued at $235,088. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HZO. Bogle Investment Management L P DE bought a new position in shares of MarineMax during the first quarter valued at $212,000. Coe Capital Management LLC boosted its position in shares of MarineMax by 11.3% in the first quarter. Coe Capital Management LLC now owns 32,595 shares of the specialty retailer’s stock valued at $706,000 after buying an additional 3,310 shares in the last quarter. 1060 Capital LLC bought a new position in shares of MarineMax during the first quarter valued at $3,580,000. Bank of New York Mellon Corp boosted its position in shares of MarineMax by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 337,535 shares of the specialty retailer’s stock valued at $7,308,000 after buying an additional 11,226 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of MarineMax by 11.0% in the first quarter. OppenheimerFunds Inc. now owns 32,966 shares of the specialty retailer’s stock valued at $713,000 after buying an additional 3,265 shares in the last quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.
MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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