MarineMax (NYSE:HZO) Shares Cross Above 200-Day Moving Average - What's Next?

Shares of MarineMax, Inc. (NYSE:HZO - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $24.77 and traded as high as $27.56. MarineMax shares last traded at $26.70, with a volume of 264,024 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HZO. Citigroup restated a "buy" rating and issued a $32.00 price target (up previously from $29.00) on shares of MarineMax in a research note on Monday, June 16th. Truist Financial cut their price objective on MarineMax from $38.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $36.50.

MarineMax Trading Up 3.9%

The company has a 50 day simple moving average of $23.18 and a 200 day simple moving average of $24.77. The company has a market capitalization of $594.93 million, a PE ratio of 11.31 and a beta of 1.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.31 and a current ratio of 1.16.

MarineMax (NYSE:HZO - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.23 EPS for the quarter, topping the consensus estimate of $0.16 by $0.07. MarineMax had a return on equity of 5.01% and a net margin of 2.35%. The firm had revenue of $631.52 million during the quarter, compared to analysts' expectations of $580.12 million. During the same period in the previous year, the business earned $0.18 earnings per share. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. Analysts anticipate that MarineMax, Inc. will post 2.41 earnings per share for the current year.

Hedge Funds Weigh In On MarineMax

Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its holdings in MarineMax by 69.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 348,664 shares of the specialty retailer's stock valued at $7,496,000 after acquiring an additional 142,775 shares during the last quarter. SWS Partners grew its position in shares of MarineMax by 3.4% in the first quarter. SWS Partners now owns 21,243 shares of the specialty retailer's stock valued at $457,000 after purchasing an additional 691 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of MarineMax in the first quarter valued at approximately $168,000. Nexpoint Asset Management L.P. lifted its position in MarineMax by 75.7% during the first quarter. Nexpoint Asset Management L.P. now owns 21,000 shares of the specialty retailer's stock worth $452,000 after buying an additional 9,045 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MarineMax by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,921 shares of the specialty retailer's stock worth $278,000 after buying an additional 546 shares during the last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.

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.