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

MarineMax (NYSE:HZO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

Several other equities research analysts have also issued reports on the stock. Benchmark initiated 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. Citigroup raised shares of MarineMax from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $44.00 in a report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Trading Down 3.0 %

MarineMax stock opened at $31.69 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.34 and a current ratio of 1.19. MarineMax has a fifty-two week low of $22.51 and a fifty-two week high of $39.85. The stock has a market cap of $715.76 million, a P/E ratio of 19.20 and a beta of 1.87. The firm’s fifty day moving average price is $31.06 and its 200-day moving average price is $32.03.

MarineMax (NYSE:HZO) last announced its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The business had revenue of $563.10 million for the quarter, compared to analyst estimates of $576.49 million. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. Equities research analysts forecast that MarineMax will post 2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarineMax

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of MarineMax by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock worth $46,767,000 after purchasing an additional 110,601 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of MarineMax by 134.3% in the 3rd quarter. Victory Capital Management Inc. now owns 129,416 shares of the specialty retailer’s stock worth $4,565,000 after buying an additional 74,173 shares during the last quarter. Millennium Management LLC increased its stake in shares of MarineMax by 22.7% during 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. Algert Global LLC bought a new position in shares of MarineMax during the third quarter valued at approximately $4,949,000. Finally, Intech Investment Management LLC purchased a new stake in MarineMax in the third quarter worth $912,000. Hedge funds and other 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.