MarineMax (NYSE:HZO) PT Lowered to $35.00

MarineMax (NYSE:HZO) had its price target cut by Stifel Nicolaus from $37.00 to $35.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

HZO has been the subject of a number of other reports. DA Davidson restated a buy rating and set a $34.00 price target on shares of MarineMax in a report on Friday, March 15th. StockNews.com downgraded MarineMax from a hold rating to a sell rating in a research note on Saturday, January 27th. Finally, Truist Financial dropped their price target on MarineMax from $40.00 to $35.00 and set a buy rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, MarineMax has a consensus rating of Moderate Buy and a consensus target price of $36.75.

MarineMax Stock Performance

Shares of NYSE HZO opened at $26.06 on Friday. The business’s 50-day simple moving average is $30.09 and its 200-day simple moving average is $31.40. MarineMax has a 52 week low of $22.51 and a 52 week high of $42.88. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.34 and a current ratio of 1.24. The firm has a market cap of $581.14 million, a price-to-earnings ratio of 9.44 and a beta of 1.69.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.18 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.55). The company had revenue of $582.90 million for the quarter, compared to analyst estimates of $590.19 million. MarineMax had a net margin of 2.56% and a return on equity of 7.66%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $1.23 EPS. As a group, equities research analysts expect that MarineMax will post 3.09 earnings per share for the current fiscal year.

Insider Activity at MarineMax

In related news, Director Clint Moore sold 4,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $31.12, for a total transaction of $124,480.00. Following the transaction, the director now directly owns 20,544 shares in the company, valued at $639,329.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Clint Moore sold 4,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $31.12, for a total value of $124,480.00. Following the completion of the transaction, the director now directly owns 20,544 shares in the company, valued at $639,329.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles A. Cashman sold 7,500 shares of MarineMax stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $29.76, for a total transaction of $223,200.00. Following the sale, the executive vice president now owns 63,981 shares in the company, valued at approximately $1,904,074.56. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.

Institutional Trading of MarineMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in MarineMax by 97.0% during the third quarter. SG Americas Securities LLC now owns 12,495 shares of the specialty retailer’s stock valued at $410,000 after purchasing an additional 6,151 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in MarineMax by 244.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,226 shares of the specialty retailer’s stock valued at $861,000 after buying an additional 18,614 shares in the last quarter. Private Management Group Inc. grew its position in MarineMax by 0.7% in the third quarter. Private Management Group Inc. now owns 401,861 shares of the specialty retailer’s stock valued at $13,189,000 after acquiring an additional 2,801 shares during the period. Fifth Third Bancorp raised its stake in MarineMax by 442.3% during the third quarter. Fifth Third Bancorp now owns 770 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 628 shares in the last quarter. Finally, Levin Capital Strategies L.P. lifted its holdings in shares of MarineMax by 19.1% during the third quarter. Levin Capital Strategies L.P. now owns 708,439 shares of the specialty retailer’s stock valued at $23,251,000 after acquiring an additional 113,850 shares during the period. Institutional investors own 92.85% of the company’s stock.

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.