MarineMax (NYSE:HZO) PT Lowered to $35.00 at Truist Financial

MarineMax (NYSE:HZO) had its price target decreased by stock analysts at Truist Financial from $40.00 to $35.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price objective would indicate a potential upside of 36.99% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. DA Davidson restated a “buy” rating and issued a $34.00 target price on shares of MarineMax in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.40.

MarineMax Stock Down 0.2 %

Shares of HZO traded down $0.05 during trading hours on Friday, reaching $25.55. The company’s stock had a trading volume of 179,670 shares, compared to its average volume of 328,932. The company has a 50 day moving average of $30.32 and a two-hundred day moving average of $31.48. MarineMax has a 1-year low of $22.51 and a 1-year high of $42.88. The firm has a market cap of $569.77 million, a price-to-earnings ratio of 6.31 and a beta of 1.69. The company has a quick ratio of 0.35, a current ratio of 1.28 and a debt-to-equity ratio of 0.41.

MarineMax (NYSE:HZO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.55). The company had revenue of $582.90 million for the quarter, compared to analyst estimates of $590.19 million. MarineMax had a return on equity of 10.44% and a net margin of 3.75%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. As a group, research analysts predict that MarineMax will post 3.33 EPS for the current fiscal year.

Insider Activity at MarineMax

In other news, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $31.12, for a total value of $124,480.00. Following the sale, the director now owns 20,544 shares of the company’s stock, valued at $639,329.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Charles A. Cashman sold 7,500 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $29.76, for a total value of $223,200.00. Following the transaction, the executive vice president now owns 63,981 shares in the company, valued at $1,904,074.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clint Moore sold 4,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $31.12, for a total value of $124,480.00. Following the sale, the director now owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MarineMax

Several large investors have recently made changes to their positions in HZO. Fifth Third Bancorp increased its position in shares of MarineMax by 442.3% during the third quarter. Fifth Third Bancorp now owns 770 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 628 shares during the period. Spire Wealth Management raised its holdings in shares of MarineMax by 58.3% in the 3rd quarter. Spire Wealth Management now owns 1,496 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 551 shares in the last quarter. Bfsg LLC bought a new stake in MarineMax in the fourth quarter worth approximately $133,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MarineMax by 25.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 696 shares in the last quarter. Finally, Arizona State Retirement System bought a new position in shares of MarineMax in the 4th quarter valued at about $214,000. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

About MarineMax

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.