MarineMax (NYSE:HZO) Hits New 1-Year High – Here’s What Happened

MarineMax, Inc. (NYSE:HZO)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $32.00 and last traded at $30.8550, with a volume of 31743 shares traded. The stock had previously closed at $31.00.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HZO. Weiss Ratings restated a “sell (d)” rating on shares of MarineMax in a research note on Thursday, January 22nd. Zacks Research raised shares of MarineMax from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Benchmark reaffirmed a “buy” rating on shares of MarineMax in a report on Friday, January 30th. B. Riley Financial reiterated a “buy” rating and issued a $29.00 target price (up from $27.00) on shares of MarineMax in a research note on Friday, January 30th. Finally, Loop Capital assumed coverage on MarineMax in a research report on Monday, December 22nd. They set a “buy” rating and a $29.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.80.

MarineMax Price Performance

The company has a current ratio of 1.19, a quick ratio of 0.29 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $671.63 million, a PE ratio of -11.38 and a beta of 1.69. The business has a fifty day moving average price of $27.62 and a 200-day moving average price of $26.07.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. The business had revenue of $505.18 million for the quarter, compared to the consensus estimate of $481.67 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Research analysts expect that MarineMax, Inc. will post 2.41 EPS for the current fiscal year.

Hedge Funds Weigh In On MarineMax

Several institutional investors and hedge funds have recently bought and sold shares of HZO. Nisa Investment Advisors LLC lifted its position in MarineMax by 54.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,056 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 374 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in MarineMax by 52.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the specialty retailer’s stock worth $34,000 after buying an additional 466 shares during the period. MTM Investment Management LLC purchased a new position in shares of MarineMax during the second quarter valued at approximately $42,000. Russell Investments Group Ltd. raised its holdings in shares of MarineMax by 93.5% during the third quarter. Russell Investments Group Ltd. now owns 1,672 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 808 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in MarineMax by 12.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,008 shares of the specialty retailer’s stock worth $126,000 after acquiring an additional 567 shares during the period. 92.85% of the stock is currently owned by institutional investors.

About MarineMax

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.