MarineMax (NYSE:HZO) Reaches New 12-Month High – Here’s What Happened
by Mitch Edgeman · The Markets DailyShares of MarineMax, Inc. (NYSE:HZO – Get Free Report) hit a new 52-week high on Thursday. The company traded as high as $52.59 and last traded at $52.5950, with a volume of 358,631 shares trading hands. The stock had previously closed at $52.42.
Analysts Set New Price Targets
Several brokerages recently weighed in on HZO. Northcoast Research downgraded shares of MarineMax from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Weiss Ratings raised MarineMax from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Benchmark cut shares of MarineMax from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Citigroup cut MarineMax from a “buy” rating to a “neutral” rating and upped their target price for the company from $41.00 to $53.00 in a research report on Friday, October 2nd. Finally, B. Riley Financial downgraded shares of MarineMax from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Tuesday, July 21st. Eight investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $44.67.
View Our Latest Stock Report on HZO
MarineMax Trading Up 0.4%
The business has a fifty day moving average of $52.29 and a two-hundred day moving average of $40.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.34 and a current ratio of 1.23. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 375.89 and a beta of 1.70.
MarineMax (NYSE:HZO – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The specialty retailer reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). MarineMax had a net margin of 0.18% and a return on equity of 1.51%. The firm had revenue of $611.26 million during the quarter, compared to analysts’ expectations of $682.29 million. During the same quarter in the prior year, the business earned ($2.42) EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, equities analysts expect that MarineMax, Inc. will post 0.69 earnings per share for the current fiscal year.
Institutional Trading of MarineMax
Several institutional investors and hedge funds have recently made changes to their positions in HZO. Public Employees Retirement System of Ohio acquired a new stake in shares of MarineMax during the second quarter valued at $59,000. Nisa Investment Advisors LLC increased its position in MarineMax by 42.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,754 shares of the specialty retailer’s stock worth $92,000 after purchasing an additional 519 shares in the last quarter. GAMMA Investing LLC raised its stake in MarineMax by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,941 shares of the specialty retailer’s stock valued at $71,000 after purchasing an additional 360 shares during the last quarter. Fifth Third Bancorp raised its stake in MarineMax by 3,613.3% in the 1st quarter. Fifth Third Bancorp now owns 4,196 shares of the specialty retailer’s stock valued at $114,000 after purchasing an additional 4,083 shares during the last quarter. Finally, Arizona State Retirement System acquired a new position in MarineMax in the 2nd quarter valued at about $200,000. 92.85% of the stock is currently owned by hedge funds and other institutional investors.
About MarineMax
MarineMax, Inc is a recreational boat and yacht retailer based in Clearwater, Florida. The company sells new and pre-owned powerboats, sailboats, yachts and related marine products through a network of dealerships and brokerage operations.
In addition to boat sales, MarineMax provides maintenance, repair, storage, parts and other marina services. It also offers financing and insurance products through third-party relationships, as well as charter, yacht-management and boating-lifestyle services through its affiliated businesses.
MarineMax serves customers primarily in the United States, with operations concentrated in boating markets including Florida, the Northeast, the Midwest and other coastal and inland regions.