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

MarineMax (NYSE:HZO) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other brokerages have also recently issued reports on HZO. DA Davidson boosted their price objective on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus raised their price objective on shares of MarineMax from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 12th. B. Riley reduced their price objective on shares of MarineMax from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, Truist Financial raised their price target on MarineMax from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.75.

MarineMax Stock Performance

Shares of NYSE:HZO traded up $0.56 during midday trading on Monday, reaching $37.76. The company had a trading volume of 443,262 shares, compared to its average volume of 335,864. The stock has a market cap of $842.80 million, a P/E ratio of 13.68 and a beta of 1.83. The company’s 50 day moving average price is $32.51 and its 200 day moving average price is $30.84. The company has a current ratio of 1.20, a quick ratio of 0.36 and a debt-to-equity ratio of 0.37. MarineMax has a 52-week low of $22.51 and a 52-week high of $40.51.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.16. MarineMax had a net margin of 2.00% and a return on equity of 6.26%. The company had revenue of $757.72 million during the quarter, compared to analyst estimates of $720.30 million. During the same quarter last year, the business posted $2.07 EPS. MarineMax’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that MarineMax will post 2.4 EPS for the current fiscal year.

Institutional Trading of MarineMax

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in shares of MarineMax by 25.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 92,191 shares of the specialty retailer’s stock valued at $3,586,000 after acquiring an additional 18,484 shares during the last quarter. Arizona State Retirement System bought a new position in shares of MarineMax in the fourth quarter worth approximately $214,000. Louisiana State Employees Retirement System purchased a new position in shares of MarineMax in the fourth quarter worth $389,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MarineMax by 25.1% during the 4th 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 during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in MarineMax by 175.9% in the 4th quarter. New York State Common Retirement Fund now owns 21,596 shares of the specialty retailer’s stock worth $840,000 after acquiring an additional 13,769 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.