MarineMax (NYSE:HZO) Trading 9.5% Higher – Still a Buy?

MarineMax, Inc. (NYSE:HZO)’s stock price was up 9.5% during trading on Friday . The company traded as high as $34.70 and last traded at $34.25. Approximately 42,813 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 313,335 shares. The stock had previously closed at $31.29.

Analyst Ratings Changes

Several research firms recently issued reports on HZO. Truist Financial upped their price objective on shares of MarineMax from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, July 26th. DA Davidson increased their target price on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus upped their price objective on shares of MarineMax from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Citigroup raised MarineMax from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $44.00 in a research report on Monday, September 9th. Finally, B. Riley reduced their price objective on MarineMax from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, MarineMax presently has an average rating of “Moderate Buy” and a consensus target price of $42.20.

MarineMax Stock Up 9.1 %

The company has a quick ratio of 0.36, a current ratio of 1.20 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $32.30 and a two-hundred day simple moving average of $31.03. The company has a market capitalization of $761.58 million, a price-to-earnings ratio of 12.53 and a beta of 1.82.

MarineMax (NYSE:HZO) last released 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. MarineMax had a return on equity of 6.26% and a net margin of 2.00%. The firm had revenue of $757.72 million during the quarter, compared to analyst estimates of $720.30 million. During the same period in the prior year, the company posted $2.07 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts expect that MarineMax, Inc. will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MarineMax

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 purchasing an additional 29,473 shares during the last quarter. Dimensional Fund Advisors LP increased 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 acquiring an additional 110,601 shares during the last quarter. Levin Capital Strategies L.P. raised its position in shares of MarineMax by 140.6% in the 1st quarter. Levin Capital Strategies L.P. now owns 1,045,514 shares of the specialty retailer’s stock valued at $34,774,000 after acquiring an additional 610,994 shares during the period. Broad Bay Capital Management LP boosted its stake in MarineMax by 34.1% during the 4th quarter. Broad Bay Capital Management LP now owns 704,034 shares of the specialty retailer’s stock worth $27,387,000 after acquiring an additional 179,034 shares during the last quarter. Finally, Private Management Group Inc. grew its holdings in MarineMax by 6.8% during the second quarter. Private Management Group Inc. now owns 478,990 shares of the specialty retailer’s stock valued at $15,505,000 after purchasing an additional 30,677 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.