MarineMax, Inc. (HZO) - What Are Researchers Thinking About This Stock?

Key Points

• Analyst sentiment is neutral: All eight analysts covering MarineMax rate the stock “Hold,” with an average 12-month price target of $44.67. Several firms recently downgraded the shares from Buy or Strong Buy to Hold or Neutral.
• MarineMax opened at $52.55, near its 52-week high of $52.65, but reported quarterly revenue of $611.26 million, below expectations of $682.29 million; earnings per share of $0.81 also narrowly missed estimates.
• Institutional ownership remains high at 92.85%, while the company’s low net margin of 0.18% and very high price-to-earnings ratio of 375.39 highlight valuation and profitability concerns.

Shares of MarineMax, Inc. (NYSE:HZO - Get Free Report) have received an average recommendation of "Hold" from the eight research firms that are presently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $44.67.

A number of equities analysts have issued reports on the stock. Truist Financial cut shares of MarineMax from a "buy" rating to a "hold" rating and lifted their target price for the stock from $39.00 to $53.00 in a research report on Wednesday, August 12th. Benchmark lowered shares of MarineMax from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. B. Riley Financial cut shares of MarineMax from a "buy" rating to a "neutral" rating and set a $35.00 price objective for the company. in a research note on Tuesday, July 21st. Northcoast Research downgraded MarineMax from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 12th. Finally, Citigroup downgraded MarineMax from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $41.00 to $53.00 in a research report on Friday, October 2nd.

MarineMax Stock Up 0.3%

HZO opened at $52.55 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.34 and a current ratio of 1.23. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 375.39 and a beta of 1.70. MarineMax has a one year low of $21.42 and a one year high of $52.65. The business's fifty day moving average is $52.31 and its two-hundred day moving average is $40.57.

MarineMax (NYSE:HZO - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The specialty retailer reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). MarineMax had a net margin of 0.18% and a return on equity of 1.51%. The firm had revenue of $611.26 million during the quarter, compared to analysts' expectations of $682.29 million. During the same quarter in the prior year, the business earned ($2.42) EPS. The company's quarterly revenue was down 7.0% compared to the same quarter last year. Analysts anticipate that MarineMax will post 0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On MarineMax

A number of institutional investors have recently made changes to their positions in HZO. GAMMA Investing LLC lifted its stake in shares of MarineMax by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,941 shares of the specialty retailer's stock valued at $71,000 after purchasing an additional 360 shares in the last quarter. Nisa Investment Advisors LLC increased its position in MarineMax by 42.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,754 shares of the specialty retailer's stock worth $92,000 after purchasing an additional 519 shares in the last quarter. Swiss National Bank increased its position in MarineMax by 4.0% during the 1st quarter. Swiss National Bank now owns 38,900 shares of the specialty retailer's stock worth $1,053,000 after purchasing an additional 1,500 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in MarineMax by 16.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 10,913 shares of the specialty retailer's stock worth $295,000 after purchasing an additional 1,546 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in MarineMax in the second quarter valued at approximately $59,000. 92.85% of the stock is owned by institutional investors and hedge funds.

About MarineMax

MarineMax, Inc is a recreational boat and yacht retailer based in Clearwater, Florida. The company sells new and pre-owned powerboats, sailboats, yachts and related marine products through a network of dealerships and brokerage operations.

In addition to boat sales, MarineMax provides maintenance, repair, storage, parts and other marina services. It also offers financing and insurance products through third-party relationships, as well as charter, yacht-management and boating-lifestyle services through its affiliated businesses.

MarineMax serves customers primarily in the United States, with operations concentrated in boating markets including Florida, the Northeast, the Midwest and other coastal and inland regions.

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