MarineMax (NYSE:HZO) was upgraded by Zacks Investment Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage currently has a $55.00 target price on the specialty retailer's stock. Zacks Investment Research's target price would suggest a potential upside of 16.23% from the stock's current price.
According to Zacks, "MarineMax, Inc. is the nation's largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Galeon, Grady-White, Harris, Crest, Scout, Sailfish, Sea Pro, Scarab Jet Boats, Aquila, and Nautique, MarineMax sells new and used recreational boats and related marine products and services as well as provides yacht brokerage and charter services. MarineMax currently has 62 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands. "
Other analysts have also recently issued reports about the company. B. Riley reissued a "buy" rating and issued a $65.00 target price (up from $57.00) on shares of MarineMax in a research note on Friday, July 23rd. Raymond James cut their price objective on MarineMax from $68.00 to $67.00 and set an "outperform" rating on the stock in a research report on Friday, July 23rd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $52.86.
Shares of NYSE:HZO traded down $0.68 on Tuesday, reaching $47.32. 229,576 shares of the company traded hands, compared to its average volume of 504,123. The company has a current ratio of 2.20, a quick ratio of 1.26 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.03 billion, a P/E ratio of 7.34 and a beta of 1.75. MarineMax has a 52 week low of $23.24 and a 52 week high of $70.89. The business's 50-day simple moving average is $50.07 and its 200 day simple moving average is $51.50.
MarineMax (NYSE:HZO) last posted its earnings results on Thursday, July 22nd. The specialty retailer reported $2.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $2.10 by $0.49. The company had revenue of $666.33 million for the quarter, compared to analysts' expectations of $615.99 million. MarineMax had a return on equity of 29.34% and a net margin of 7.39%. MarineMax's quarterly revenue was up 33.7% on a year-over-year basis. During the same period last year, the firm earned $1.58 earnings per share. Sell-side analysts expect that MarineMax will post 6.54 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of MarineMax by 129.0% during the second quarter. FMR LLC now owns 561 shares of the specialty retailer's stock valued at $28,000 after purchasing an additional 316 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of MarineMax during the second quarter valued at approximately $63,000. Federated Hermes Inc. lifted its holdings in shares of MarineMax by 1,534.5% during the first quarter. Federated Hermes Inc. now owns 1,373 shares of the specialty retailer's stock valued at $67,000 after purchasing an additional 1,289 shares during the last quarter. Islay Capital Management LLC purchased a new position in shares of MarineMax during the first quarter valued at approximately $130,000. Finally, Captrust Financial Advisors raised its holdings in MarineMax by 6,515.0% in the 1st quarter. Captrust Financial Advisors now owns 2,646 shares of the specialty retailer's stock worth $131,000 after acquiring an additional 2,606 shares during the last quarter.
MarineMax, Inc engages in the provision of boating-related activities. The firm sells used and new sport boats, sport cruisers, sport yachts and fishing boats through retail stores. It also provides maintenance, repair, slip and storage services. The company was founded in January 1998 and is headquartered in Clearwater, FL.
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