MarineMax (NYSE:HZO) Upgraded at Zacks Research

Key Points

• MarineMax was upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting improved analyst sentiment towards the stock.
• The company reported disappointing quarterly earnings, with a loss of $0.67 per share compared to the expected $1.16, leading to a year-over-year revenue decline of 13.3%.
• Despite mixed ratings from various brokerages, MarineMax holds a consensus rating of "Moderate Buy" with an average price target of $33.25 based on analyst evaluations.

MarineMax (NYSE:HZO - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other brokerages also recently commented on HZO. Wall Street Zen downgraded MarineMax from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Citigroup reaffirmed a "buy" rating and set a $32.00 price objective (up previously from $29.00) on shares of MarineMax in a research note on Monday, June 16th. Finally, B. Riley reaffirmed a "buy" rating on shares of MarineMax in a research note on Friday, July 25th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $33.25.

MarineMax Stock Up 1.1%

NYSE:HZO opened at $25.98 on Tuesday. MarineMax has a 12-month low of $16.85 and a 12-month high of $36.38. The company has a quick ratio of 0.29, a current ratio of 1.21 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $557.53 million, a P/E ratio of -19.39 and a beta of 1.57. The stock's fifty day simple moving average is $25.21 and its 200-day simple moving average is $23.67.

MarineMax (NYSE:HZO - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.67). MarineMax had a positive return on equity of 2.63% and a negative net margin of 1.15%.The company had revenue of $657.16 million during the quarter, compared to the consensus estimate of $737.82 million. During the same quarter in the prior year, the business earned $1.51 earnings per share. The firm's revenue for the quarter was down 13.3% on a year-over-year basis. MarineMax has set its FY 2025 guidance at 0.450-0.950 EPS. Equities research analysts expect that MarineMax will post 2.41 earnings per share for the current year.

Insider Activity

In other MarineMax news, CEO W Brett Mcgill sold 60,000 shares of MarineMax stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $27.53, for a total value of $1,651,800.00. Following the sale, the chief executive officer owned 173,038 shares of the company's stock, valued at $4,763,736.14. This trade represents a 25.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.

Institutional Trading of MarineMax

Several hedge funds and other institutional investors have recently modified their holdings of HZO. Interval Partners LP increased its position in shares of MarineMax by 181.2% in the first quarter. Interval Partners LP now owns 241,139 shares of the specialty retailer's stock valued at $5,184,000 after acquiring an additional 155,382 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of MarineMax by 69.3% in the first 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. Nuveen LLC acquired a new stake in shares of MarineMax in the first quarter valued at about $1,856,000. Principal Financial Group Inc. increased its position in shares of MarineMax by 3.2% in the first quarter. Principal Financial Group Inc. now owns 99,611 shares of the specialty retailer's stock valued at $2,142,000 after acquiring an additional 3,107 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of MarineMax in the first quarter valued at about $726,000. Institutional investors and hedge funds own 92.85% of the company's stock.

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.

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