MarineMax (NYSE:HZO) Shares Gap Up – Here’s What Happened

MarineMax, Inc. (NYSE:HZO)’s share price gapped up prior to trading on Friday . The stock had previously closed at $32.52, but opened at $33.48. MarineMax shares last traded at $33.50, with a volume of 13,758 shares changing hands.

Analysts Set New Price Targets

HZO has been the subject of a number of research analyst reports. StockNews.com cut MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Benchmark assumed coverage on shares of MarineMax in a research report on Tuesday, October 15th. They set a “buy” rating and a $40.00 target price for the company. Finally, Citigroup upgraded shares of MarineMax from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $44.00 in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, MarineMax currently has an average rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Price Performance

The company has a market capitalization of $775.46 million, a price-to-earnings ratio of 20.80 and a beta of 1.85. The company’s 50 day simple moving average is $31.49 and its 200-day simple moving average is $31.75. The company has a current ratio of 1.19, a quick ratio of 0.34 and a debt-to-equity ratio of 0.36.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The firm had revenue of $563.10 million during the quarter, compared to analysts’ expectations of $576.49 million. During the same period in the previous year, the company earned $0.69 EPS. MarineMax’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities research analysts predict that MarineMax, Inc. will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of MarineMax by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,468,991 shares of the specialty retailer’s stock worth $48,859,000 after buying an additional 29,473 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of MarineMax by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock valued at $46,767,000 after purchasing an additional 110,601 shares in the last quarter. Private Management Group Inc. grew its holdings in shares of MarineMax by 11.5% during the 3rd quarter. Private Management Group Inc. now owns 534,023 shares of the specialty retailer’s stock worth $18,835,000 after purchasing an additional 55,033 shares during the period. Millennium Management LLC raised its holdings in MarineMax by 22.7% in the second quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock valued at $13,012,000 after buying an additional 74,451 shares during the period. Finally, Royce & Associates LP lifted its position in MarineMax by 45.2% during the third quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer’s stock valued at $13,008,000 after buying an additional 114,880 shares in the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

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.