MarineMax (NYSE:HZO) Shares Gap Down After Earnings Miss

MarineMax, Inc. (NYSE:HZO - Get Free Report) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $27.32, but opened at $22.72. MarineMax shares last traded at $24.14, with a volume of 643,438 shares.

The specialty retailer reported $0.49 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.67). MarineMax had a net margin of 2.35% and a return on equity of 5.01%. The company's revenue was down 13.3% compared to the same quarter last year. During the same period last year, the business posted $1.51 earnings per share.

Analyst Ratings Changes

Several brokerages have commented on HZO. Truist Financial cut their target price on MarineMax from $38.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Citigroup reissued a "buy" rating and issued a $32.00 price objective (up from $29.00) on shares of MarineMax in a research note on Monday, June 16th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $33.25.

Hedge Funds Weigh In On MarineMax

Institutional investors have recently bought and sold shares of the company. State of Wyoming purchased a new position in MarineMax in the first quarter valued at approximately $41,000. Aquatic Capital Management LLC bought a new position in MarineMax in the 4th quarter valued at approximately $82,000. KLP Kapitalforvaltning AS purchased a new stake in shares of MarineMax in the 4th quarter worth $113,000. Quantbot Technologies LP purchased a new stake in shares of MarineMax in the 4th quarter worth $129,000. Finally, Jones Financial Companies Lllp bought a new position in shares of MarineMax during the 1st quarter valued at about $168,000. Hedge funds and other institutional investors own 92.85% of the company's stock.

MarineMax Trading Down 12.5%

The firm has a market capitalization of $513.24 million, a PE ratio of 9.74 and a beta of 1.60. The stock's 50-day moving average price is $24.52 and its 200 day moving average price is $24.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.16 and a quick ratio of 0.31.

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.

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