MarineMax (NYSE:HZO) Shares Gap Up Following Strong Earnings

MarineMax, Inc. (NYSE:HZO) shares gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $27.94, but opened at $31.89. MarineMax shares last traded at $30.67, with a volume of 99,851 shares changing hands.

The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.31. MarineMax had a net margin of 1.57% and a return on equity of 5.09%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HZO. DA Davidson decreased their target price on MarineMax from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday. Benchmark began coverage on shares of MarineMax in a report on Tuesday, October 15th. They set a “buy” rating and a $40.00 price objective for the company. Finally, StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat, MarineMax presently has a consensus rating of “Moderate Buy” and an average price target of $41.50.

Institutional Investors Weigh In On MarineMax

Several institutional investors have recently added to or reduced their stakes in the business. Oliver Luxxe Assets LLC bought a new stake in shares of MarineMax in the fourth quarter valued at approximately $1,316,000. JPMorgan Chase & Co. grew its stake in MarineMax by 8.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,705 shares of the specialty retailer’s stock valued at $413,000 after buying an additional 905 shares in the last quarter. XTX Topco Ltd bought a new stake in MarineMax during the 3rd quarter valued at $236,000. Systematic Financial Management LP purchased a new stake in shares of MarineMax during the third quarter worth $183,000. Finally, RBF Capital LLC boosted its holdings in shares of MarineMax by 55.9% in the third quarter. RBF Capital LLC now owns 93,544 shares of the specialty retailer’s stock worth $3,299,000 after acquiring an additional 33,544 shares during the period. 92.85% of the stock is owned by hedge funds and other institutional investors.

MarineMax Trading Up 13.5 %

The firm has a 50 day simple moving average of $29.56 and a 200 day simple moving average of $31.22. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.34 and a current ratio of 1.19. The firm has a market cap of $719.50 million, a P/E ratio of 19.05 and a beta of 1.89.

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.