MarineMax (NYSE:HZO) Rating Lowered to “Sell” at StockNews.com

MarineMax (NYSE:HZO) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Separately, Benchmark started coverage on MarineMax in a research report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.83.

MarineMax Trading Down 3.7 %

Shares of NYSE HZO opened at $26.75 on Wednesday. MarineMax has a 1-year low of $22.51 and a 1-year high of $38.20. The company has a 50-day moving average of $30.21 and a two-hundred day moving average of $31.50. The company has a market cap of $604.42 million, a PE ratio of 16.21 and a beta of 1.89. The company has a current ratio of 1.19, a quick ratio of 0.34 and a debt-to-equity ratio of 0.36.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. The firm had revenue of $563.10 million during 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%. MarineMax’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 EPS. As a group, equities analysts expect that MarineMax will post 2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarineMax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HZO. The Manufacturers Life Insurance Company boosted its stake in MarineMax by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer’s stock worth $267,000 after acquiring an additional 408 shares during the last quarter. Bfsg LLC increased its position in shares of 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 acquiring an additional 681 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in MarineMax by 8.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,705 shares of the specialty retailer’s stock worth $413,000 after purchasing an additional 905 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of MarineMax by 5.3% in the third quarter. Empowered Funds LLC now owns 21,473 shares of the specialty retailer’s stock valued at $757,000 after purchasing an additional 1,072 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in MarineMax by 7.0% during the 3rd quarter. Janus Henderson Group PLC now owns 20,066 shares of the specialty retailer’s stock worth $707,000 after acquiring an additional 1,319 shares during the last quarter. Institutional investors own 92.85% of the company’s stock.

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.