MarineMax (NYSE:HZO) Rating Lowered to “Sell” at StockNews.com

MarineMax (NYSE:HZO) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

HZO has been the topic of a number of other research reports. Benchmark began coverage on MarineMax in a research report on Tuesday, October 15th. They set a “buy” rating and a $40.00 price objective on the stock. Citigroup raised MarineMax from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $44.00 in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.83.

MarineMax Stock Down 1.2 %

Shares of NYSE HZO opened at $28.82 on Wednesday. The business’s 50 day moving average is $31.02 and its two-hundred day moving average is $32.11. MarineMax has a 52-week low of $22.51 and a 52-week high of $39.85. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The firm has a market cap of $651.19 million, a price-to-earnings ratio of 17.47 and a beta of 1.87.

MarineMax (NYSE:HZO) last announced its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business posted $0.69 earnings per share. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. Research analysts predict that MarineMax will post 2.33 EPS for the current year.

Institutional Trading of MarineMax

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in MarineMax by 8.3% during 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 in the last quarter. Private Management Group Inc. grew its position in shares of MarineMax by 11.5% in the 3rd quarter. Private Management Group Inc. now owns 534,023 shares of the specialty retailer’s stock valued at $18,835,000 after buying an additional 55,033 shares during the last quarter. Millennium Management LLC raised its stake in MarineMax by 22.7% during the 2nd quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock worth $13,012,000 after acquiring an additional 74,451 shares in the last quarter. Royce & Associates LP lifted its position in MarineMax by 45.2% in the third quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer’s stock valued at $13,008,000 after acquiring an additional 114,880 shares during the last quarter. Finally, Portolan Capital Management LLC purchased a new stake in MarineMax in the third quarter valued at $11,271,000. 92.85% of the stock is currently owned by institutional investors and hedge funds.

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.