MarineMax (NYSE:HZO) Rating Increased to Buy at Citigroup

MarineMax (NYSE:HZO) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday, MarketBeat Ratings reports. The brokerage presently has a $44.00 price target on the specialty retailer’s stock, up from their previous price target of $40.00. Citigroup’s target price would indicate a potential upside of 47.16% from the company’s previous close.

Several other research firms also recently weighed in on HZO. B. Riley cut their target price on MarineMax from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. DA Davidson upped their price objective on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Stifel Nicolaus upped their price objective on MarineMax from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Truist Financial upped their price objective on MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, MarineMax currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.20.

MarineMax Stock Down 1.3 %

NYSE HZO opened at $29.90 on Monday. The stock has a market cap of $667.37 million, a PE ratio of 10.83 and a beta of 1.82. MarineMax has a 12 month low of $22.51 and a 12 month high of $39.85. The stock’s 50 day moving average is $32.07 and its 200 day moving average is $30.70. The company has a current ratio of 1.20, a quick ratio of 0.36 and a debt-to-equity ratio of 0.37.

MarineMax (NYSE:HZO) last issued its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.16. The business had revenue of $757.72 million for the quarter, compared to analysts’ expectations of $720.30 million. MarineMax had a return on equity of 6.26% and a net margin of 2.00%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.07 EPS. Research analysts predict that MarineMax will post 2.33 EPS for the current fiscal year.

Institutional Investors Weigh In On MarineMax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Levin Capital Strategies L.P. raised its stake in shares of MarineMax by 140.6% in the first quarter. Levin Capital Strategies L.P. now owns 1,045,514 shares of the specialty retailer’s stock worth $34,774,000 after purchasing an additional 610,994 shares during the last quarter. Broad Bay Capital Management LP raised its stake in shares of MarineMax by 34.1% in the fourth quarter. Broad Bay Capital Management LP now owns 704,034 shares of the specialty retailer’s stock worth $27,387,000 after purchasing an additional 179,034 shares during the last quarter. Dimensional Fund Advisors LP raised 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. Shellback Capital LP raised its stake in shares of MarineMax by 44.1% in the second quarter. Shellback Capital LP now owns 295,633 shares of the specialty retailer’s stock worth $9,570,000 after purchasing an additional 90,476 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of MarineMax by 22.7% in the second quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock worth $13,012,000 after purchasing an additional 74,451 shares during the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

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.