MarineMax, Inc. (HZO) Given a $20.00 Price Target at B. Riley
Several other equities analysts have also recently weighed in on the company. Craig Hallum set a $21.00 price target on MarineMax and gave the company a buy rating in a report on Tuesday. Forward View cut MarineMax from a buy rating to a hold rating in a report on Monday. Citigroup Inc. raised their price target on MarineMax from $18.00 to $20.00 and gave the company a buy rating in a report on Monday, October 2nd. Ifs Securities restated a strong-buy rating and set a $20.00 price target on shares of MarineMax in a report on Thursday, August 24th. Finally, TheStreet cut MarineMax from a b rating to a c+ rating in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. MarineMax presently has a consensus rating of Buy and an average price target of $22.00.
MarineMax (NYSE:HZO) last released its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.11. The business had revenue of $250.62 million during the quarter, compared to analysts’ expectations of $231.96 million. MarineMax had a return on equity of 7.82% and a net margin of 2.24%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS.
MarineMax declared that its board has initiated a share buyback plan on Wednesday, August 2nd that allows the company to buyback 2,000,000 shares. This buyback authorization allows the specialty retailer to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Dean S. Woodman sold 2,500 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $16.00, for a total transaction of $40,000.00. Following the completion of the transaction, the director now owns 14,693 shares in the company, valued at approximately $235,088. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dean S. Woodman sold 3,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the transaction, the director now owns 15,193 shares of the company’s stock, valued at approximately $227,895. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,500 shares of company stock valued at $167,500. 5.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its holdings in MarineMax by 61.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 209,829 shares of the specialty retailer’s stock valued at $4,102,000 after acquiring an additional 80,043 shares during the period. Eagle Asset Management Inc. raised its position in MarineMax by 4.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 3,330,527 shares of the specialty retailer’s stock valued at $65,111,000 after purchasing an additional 146,127 shares in the last quarter. OppenheimerFunds Inc. raised its position in MarineMax by 11.0% during the 1st quarter. OppenheimerFunds Inc. now owns 32,966 shares of the specialty retailer’s stock valued at $713,000 after purchasing an additional 3,265 shares in the last quarter. Kennedy Capital Management Inc. raised its position in MarineMax by 855.1% during the 2nd quarter. Kennedy Capital Management Inc. now owns 331,000 shares of the specialty retailer’s stock valued at $6,471,000 after purchasing an additional 296,343 shares in the last quarter. Finally, Impala Asset Management LLC raised its position in MarineMax by 18.6% during the 2nd quarter. Impala Asset Management LLC now owns 1,795,759 shares of the specialty retailer’s stock valued at $35,107,000 after purchasing an additional 282,017 shares in the last quarter. Institutional investors 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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