MarineMax (NYSE:HZO) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Shares recently climbed above the 200-day moving average of $26.29, trading as high as $29.20, although the stock was down about 2.6% during the session.
• Quarterly results showed an EPS miss (($0.21) vs. ($0.12) expected) despite a 7.8% year-over-year revenue increase to $505.18 million; the company still reported a negative net margin (-2.46%).
• The board approved a $100 million share repurchase plan (up to 15.3% of shares) and analysts hold a consensus "Moderate Buy" with a $30.80 price target (five Buys, one Hold, one Sell).

Shares of MarineMax, Inc. (NYSE:HZO - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.29 and traded as high as $29.20. MarineMax shares last traded at $28.4210, with a volume of 182,616 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HZO shares. Loop Capital started coverage on MarineMax in a report on Monday, December 22nd. They set a "buy" rating and a $29.00 price objective for the company. Citigroup restated a "buy" rating on shares of MarineMax in a report on Wednesday, January 14th. Benchmark restated a "buy" rating on shares of MarineMax in a report on Friday, January 30th. National Bank Financial set a $35.00 price objective on MarineMax in a report on Friday, January 30th. Finally, B. Riley Financial reiterated a "buy" rating and issued a $29.00 price target (up from $27.00) on shares of MarineMax in a report on Friday, January 30th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.80.

MarineMax Trading Down 2.6%

The stock has a market capitalization of $626.11 million, a price-to-earnings ratio of -10.60 and a beta of 1.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.29 and a current ratio of 1.19. The firm has a fifty day moving average of $27.81 and a 200-day moving average of $26.29.

MarineMax (NYSE:HZO - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.09). MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. The company had revenue of $505.18 million during the quarter, compared to analyst estimates of $481.67 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts predict that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

MarineMax declared that its board has authorized a share repurchase plan on Wednesday, March 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the specialty retailer to purchase up to 15.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On MarineMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HZO. Royal Bank of Canada boosted its position in MarineMax by 6.9% in the 1st quarter. Royal Bank of Canada now owns 140,829 shares of the specialty retailer's stock valued at $3,027,000 after buying an additional 9,050 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in MarineMax by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,921 shares of the specialty retailer's stock valued at $278,000 after buying an additional 546 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in MarineMax in the 1st quarter valued at about $168,000. Goldman Sachs Group Inc. boosted its position 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 buying an additional 142,775 shares during the last quarter. Finally, Invesco Ltd. boosted its position in MarineMax by 115.6% in the 2nd quarter. Invesco Ltd. now owns 716,078 shares of the specialty retailer's stock valued at $18,002,000 after buying an additional 383,926 shares during the last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.

About MarineMax

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.

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