StockNews.com Downgrades MarineMax (NYSE:HZO) to Sell

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

A number of other equities analysts have also recently commented on the company. Citigroup raised MarineMax from a “neutral” rating to a “buy” rating and increased their target price for the company from $40.00 to $44.00 in a report on Monday, September 9th. Benchmark began coverage on MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat.com, MarineMax presently has an average rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Stock Performance

Shares of HZO stock opened at $28.82 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.34. The business has a fifty day moving average of $31.02 and a 200 day moving average of $32.11. The firm has a market capitalization of $651.19 million, a price-to-earnings ratio of 17.47 and a beta of 1.87. MarineMax has a 1 year low of $22.51 and a 1 year high of $39.85.

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

Institutional Investors Weigh In On MarineMax

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of MarineMax by 342.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 29,785 shares of the specialty retailer’s stock worth $964,000 after buying an additional 23,057 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in MarineMax by 2.9% during the second quarter. SummerHaven Investment Management LLC now owns 20,150 shares of the specialty retailer’s stock worth $652,000 after acquiring an additional 567 shares during the last quarter. Bank of New York Mellon Corp raised its position in MarineMax by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 185,880 shares of the specialty retailer’s stock valued at $6,017,000 after purchasing an additional 3,867 shares during the period. Lawson Kroeker Investment Management Inc. NE lifted its stake in shares of MarineMax by 4.5% in the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 150,474 shares of the specialty retailer’s stock valued at $4,871,000 after purchasing an additional 6,470 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of MarineMax by 60.0% during the 2nd quarter. Victory Capital Management Inc. now owns 55,243 shares of the specialty retailer’s stock worth $1,788,000 after purchasing an additional 20,724 shares during the period. 92.85% of the stock is currently owned by institutional investors and hedge funds.

MarineMax Company Profile

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.