MarineMax, Inc. (HZO) Now Covered by CL King
Stock analysts at CL King started coverage on shares of MarineMax, Inc. (NYSE:HZO) in a research note issued to investors on Monday. The brokerage set a “neutral” rating on the specialty retailer’s stock.
Several other equities analysts also recently commented on HZO. B. Riley reissued a “buy” rating and set a $19.75 target price on shares of MarineMax in a research report on Thursday, October 26th. Citigroup Inc. raised their price target on MarineMax from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. Craig Hallum set a $21.00 price target on MarineMax and gave the company a “buy” rating in a research report on Tuesday, October 31st. TheStreet downgraded MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Finally, Forward View downgraded MarineMax from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $21.67.
Shares of MarineMax (NYSE:HZO) traded up $1.15 during midday trading on Monday, reaching $20.95. The company’s stock had a trading volume of 604,800 shares, compared to its average volume of 308,896. MarineMax has a 12-month low of $13.80 and a 12-month high of $23.65. The firm has a market capitalization of $469.96, a PE ratio of 19.60, a P/E/G ratio of 0.57 and a beta of 0.99.
MarineMax (NYSE:HZO) last released its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.11. The business had revenue of $250.62 million during the quarter, compared to analyst estimates of $231.96 million. MarineMax had a return on equity of 7.82% and a net margin of 2.24%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.18 EPS. equities research analysts expect that MarineMax will post 1.16 EPS for the current fiscal year.
MarineMax declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 2nd that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign 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 shares were sold at an average price of $16.00, for a total value of $40,000.00. Following the sale, the director now directly owns 14,693 shares of the company’s stock, valued at approximately $235,088. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $45,000.00. Following the completion of the sale, the director now directly owns 15,193 shares in the company, valued at $227,895. The disclosure for this sale can be found here. Insiders sold a total of 55,500 shares of company stock valued at $1,114,550 in the last three months. 5.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Boothbay Fund Management LLC bought a new stake in MarineMax in the 3rd quarter valued at $182,000. PEAK6 Investments L.P. bought a new stake in MarineMax in the 3rd quarter valued at $274,000. Royce & Associates LP lifted its position in MarineMax by 1,644.7% in the 3rd quarter. Royce & Associates LP now owns 132,600 shares of the specialty retailer’s stock valued at $2,195,000 after acquiring an additional 125,000 shares in the last quarter. Allianz Asset Management GmbH lifted its position in MarineMax by 105.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 129,620 shares of the specialty retailer’s stock valued at $2,145,000 after acquiring an additional 66,380 shares in the last quarter. Finally, Impala Asset Management LLC lifted its position in MarineMax by 23.1% during the 3rd quarter. Impala Asset Management LLC now owns 2,209,749 shares of the specialty retailer’s stock worth $36,571,000 after buying an additional 413,990 shares in the last quarter. 90.57% of the stock is currently owned by institutional investors and hedge funds.
MarineMax Company Profile
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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