MarineMax (NYSE:HZO) Shares Down 5.6%

MarineMax, Inc. (NYSE:HZO)’s share price traded down 5.6% during mid-day trading on Monday . The stock traded as low as $30.57 and last traded at $30.57. 73,763 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 325,458 shares. The stock had previously closed at $32.37.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HZO. Stifel Nicolaus cut their price objective on MarineMax from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. DA Davidson restated a “buy” rating and set a $34.00 price target on shares of MarineMax in a research report on Friday, March 15th. Finally, Truist Financial decreased their price objective on MarineMax from $40.00 to $35.00 and set a “buy” rating for the company in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, MarineMax has an average rating of “Moderate Buy” and an average target price of $36.75.

MarineMax Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.24 and a quick ratio of 0.34. The firm’s 50-day moving average is $29.61 and its two-hundred day moving average is $31.24. The company has a market cap of $689.96 million, a P/E ratio of 11.21 and a beta of 1.83.

MarineMax (NYSE:HZO) last announced its earnings results on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.55). MarineMax had a net margin of 2.56% and a return on equity of 7.66%. The business had revenue of $582.90 million for the quarter, compared to analysts’ expectations of $590.19 million. During the same quarter last year, the firm earned $1.23 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts anticipate that MarineMax, Inc. will post 2.46 earnings per share for the current year.

Institutional Investors Weigh In On MarineMax

A number of large investors have recently modified their holdings of the business. Bfsg LLC acquired a new stake in MarineMax during the fourth quarter worth about $133,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MarineMax by 25.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 696 shares in the last quarter. Arizona State Retirement System purchased a new position in shares of MarineMax in the 4th quarter valued at about $214,000. Capstone Investment Advisors LLC purchased a new position in MarineMax during the fourth quarter worth approximately $220,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in MarineMax by 17.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,158 shares of the specialty retailer’s stock worth $205,000 after buying an additional 924 shares during the last quarter. Hedge funds and other 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.