MarineMax (NYSE:HZO) Shares Up 10.2% – Here’s Why

by · The Cerbat Gem

MarineMax, Inc. (NYSE:HZO – Get Free Report)’s share price rose 10.2% during mid-day trading on Monday . The company traded as high as $33.68 and last traded at $33.68. Approximately 137,234 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 301,654 shares. The stock had previously closed at $30.56.

Analyst Upgrades and Downgrades

HZO has been the topic of several research reports. Benchmark started coverage on shares of MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price target on the stock. Citigroup upgraded MarineMax from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $44.00 in a report on Monday, September 9th. Finally, StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.83.

Check Out Our Latest Stock Analysis on MarineMax

MarineMax Price Performance

The company’s 50-day simple moving average is $31.75 and its 200 day simple moving average is $31.59. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $753.38 million, a price-to-earnings ratio of 20.02 and a beta of 1.85.

MarineMax (NYSE:HZO – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $563.10 million during the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The business’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. Equities research analysts forecast that MarineMax, Inc. will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MarineMax

A number of hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new position in MarineMax during the second quarter worth about $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in MarineMax in the 3rd quarter valued at $67,000. Point72 Asset Management L.P. acquired a new position in MarineMax during the third quarter valued at approximately $143,000. Bfsg LLC increased its holdings in MarineMax by 19.1% during the third quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock worth $150,000 after buying an additional 681 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of MarineMax in the third quarter valued at approximately $183,000. Institutional investors own 92.85% of the company’s stock.

About MarineMax

(Get Free Report)

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.

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