MarineMax (NYSE:HZO) Trading Up 5.2% – Should You Buy?

MarineMax, Inc. (NYSE:HZO) shares shot up 5.2% during mid-day trading on Tuesday . The stock traded as high as $28.86 and last traded at $28.70. 76,053 shares were traded during trading, a decline of 74% from the average session volume of 295,403 shares. The stock had previously closed at $27.29.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup raised MarineMax from a “neutral” rating to a “buy” rating and increased their target price for the stock from $40.00 to $44.00 in a report on Monday, September 9th. StockNews.com upgraded MarineMax from a “sell” rating to a “hold” rating in a research report on Thursday, December 26th. Finally, Benchmark initiated coverage on MarineMax in a research report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Price Performance

The firm has a market cap of $654.13 million, a P/E ratio of 17.55 and a beta of 1.87. The business has a fifty day moving average of $30.50 and a 200 day moving average of $31.73. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The business 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 posted $0.69 earnings per share. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that MarineMax, Inc. will post 2.33 earnings per share for the current year.

Institutional Trading of MarineMax

A number of institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of MarineMax during the second quarter valued at about $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in MarineMax in the third quarter worth approximately $67,000. Point72 Asset Management L.P. purchased a new stake in shares of MarineMax during the third quarter valued at approximately $143,000. Bfsg LLC raised its holdings in shares of MarineMax by 19.1% during the third quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock valued at $150,000 after acquiring an additional 681 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of MarineMax in the third quarter worth $183,000. Institutional investors own 92.85% of the company’s stock.

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.