MarineMax (NYSE:HZO) Trading Up 5.5% Following Analyst Upgrade
MarineMax, Inc. (NYSE:HZO) rose 5.5% during trading on Tuesday after Zacks Investment Research upgraded the stock from a hold rating to a buy rating. Zacks Investment Research now has a $48.00 price target on the stock. MarineMax traded as high as $43.42 and last traded at $43.25. Approximately 689,617 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 539,788 shares. The stock had previously closed at $40.99.
According to Zacks, “MarineMax, Inc. is the nation’s largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Galeon, Grady-White, Harris, Crest, Scout, Sailfish, Sea Pro, Scarab Jet Boats, Aquila, and Nautique, MarineMax sells new and used recreational boats and related marine products and services as well as provides yacht brokerage and charter services. MarineMax currently has 62 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands. “
Other analysts also recently issued research reports about the stock. BidaskClub raised shares of MarineMax from a “hold” rating to a “buy” rating in a research report on Thursday, January 7th. B. Riley upped their price objective on shares of MarineMax from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday. They noted that the move was a valuation call. ValuEngine downgraded shares of MarineMax from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 1st. Raymond James boosted their target price on shares of MarineMax from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, January 4th. Finally, Wolfe Research initiated coverage on MarineMax in a report on Tuesday, September 22nd. They set an “outperform” rating and a $29.00 price target for the company. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $33.67.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HZO. Private Advisor Group LLC bought a new position in shares of MarineMax in the second quarter valued at $26,000. Public Employees Retirement System of Ohio raised its holdings in shares of MarineMax by 85.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,206 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 557 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in shares of MarineMax in the 3rd quarter worth about $34,000. Denali Advisors LLC bought a new position in MarineMax in the 3rd quarter valued at about $100,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in MarineMax during the 3rd quarter valued at about $118,000.
The company has a quick ratio of 0.75, a current ratio of 1.85 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $35.01 and a 200 day moving average price of $29.78. The stock has a market capitalization of $932.44 million, a PE ratio of 12.58 and a beta of 1.78.
MarineMax (NYSE:HZO) last released its quarterly earnings results on Wednesday, October 28th. The specialty retailer reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.78. MarineMax had a return on equity of 18.47% and a net margin of 4.94%. The business had revenue of $398.80 million during the quarter, compared to analyst estimates of $347.53 million. During the same period in the prior year, the firm posted $0.38 EPS. MarineMax’s quarterly revenue was up 29.5% compared to the same quarter last year. On average, equities analysts forecast that MarineMax, Inc. will post 3.83 earnings per share for the current fiscal year.
MarineMax Company Profile (NYSE:HZO)
MarineMax, Inc operates as a recreational boat and yacht retailer in the United States. The company sells new and used recreational boats, including pleasure boats, boats, and sport cruisers; mega-yachts, sport yachts, and other yachts; fishing boats; motor and convertible yachts; pontoon boats; fishing boats; ski boats; and jet boats.
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