MarineMax (NYSE:HZO) Raised to Hold at StockNews.com

MarineMax (NYSE:HZO) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other analysts have also recently weighed in on HZO. Benchmark initiated coverage on MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price target on the stock. Citigroup raised shares of MarineMax from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $44.00 in a report on Monday, September 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, MarineMax has a consensus rating of “Moderate Buy” and an average target price of $41.83.

MarineMax Stock Up 1.0 %

Shares of NYSE HZO opened at $28.54 on Thursday. The business has a 50-day simple moving average of $30.77 and a two-hundred day simple moving average of $31.93. MarineMax has a 52 week low of $22.51 and a 52 week high of $39.85. The company has a market cap of $644.86 million, a P/E ratio of 17.30 and a beta of 1.87. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

MarineMax (NYSE:HZO) last posted its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.06. The business had revenue of $563.10 million for the quarter, compared to analysts’ expectations of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. Research analysts anticipate that MarineMax will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its holdings in shares of MarineMax by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer’s stock valued at $267,000 after purchasing an additional 408 shares during the last quarter. Bfsg LLC lifted its stake in shares of MarineMax by 19.1% in the 3rd quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock valued at $150,000 after acquiring an additional 681 shares during the last quarter. Empowered Funds LLC grew its position in MarineMax by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 21,473 shares of the specialty retailer’s stock worth $757,000 after acquiring an additional 1,072 shares during the last quarter. Janus Henderson Group PLC increased its stake in MarineMax by 7.0% in the 3rd quarter. Janus Henderson Group PLC now owns 20,066 shares of the specialty retailer’s stock worth $707,000 after purchasing an additional 1,319 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of MarineMax during the second quarter valued at approximately $52,000. 92.85% of the stock is currently owned by 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.