MarineMax (NYSE:HZO) PT Lowered to $35.00

MarineMax (NYSE:HZO - Get Free Report) had its target price reduced by investment analysts at Stifel Nicolaus from $37.00 to $35.00 in a research report issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the specialty retailer's stock. Stifel Nicolaus' price objective would indicate a potential upside of 37.90% from the stock's current price.

Several other equities analysts have also recently weighed in on HZO. DA Davidson reaffirmed a "buy" rating and set a $34.00 target price on shares of MarineMax in a research note on Friday, March 15th. StockNews.com cut shares of MarineMax from a "hold" rating to a "sell" rating in a research note on Saturday, January 27th. Finally, Truist Financial dropped their price objective on shares of MarineMax from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, MarineMax presently has an average rating of "Moderate Buy" and an average target price of $35.40.

MarineMax Price Performance

HZO traded down $0.22 during trading on Friday, hitting $25.38. 455,253 shares of the company traded hands, compared to its average volume of 332,555. The company has a market cap of $565.97 million, a PE ratio of 6.31 and a beta of 1.69. The stock's 50-day simple moving average is $30.32 and its two-hundred day simple moving average is $31.48. MarineMax has a 1 year low of $22.51 and a 1 year high of $42.88. The company has a current ratio of 1.28, a quick ratio of 0.35 and a debt-to-equity ratio of 0.41.

MarineMax (NYSE:HZO - Get Free Report) last posted its earnings results on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.55). The company had revenue of $582.90 million for the quarter, compared to analysts' expectations of $590.19 million. MarineMax had a net margin of 3.75% and a return on equity of 10.44%. The business's revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 earnings per share. As a group, sell-side analysts anticipate that MarineMax will post 3.33 earnings per share for the current fiscal year.

Insider Transactions at MarineMax

In other news, Director Clint Moore sold 4,000 shares of the firm's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $31.12, for a total value of $124,480.00. Following the completion of the sale, the director now owns 20,544 shares in the company, valued at approximately $639,329.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction of $124,480.00. Following the completion of the sale, the director now owns 20,544 shares in the company, valued at approximately $639,329.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles A. Cashman sold 7,500 shares of MarineMax stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $29.76, for a total transaction of $223,200.00. Following the sale, the executive vice president now owns 63,981 shares of the company's stock, valued at approximately $1,904,074.56. The disclosure for this sale can be found here. Company insiders own 4.00% of the company's stock.

Institutional Investors Weigh In On MarineMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HZO. SG Americas Securities LLC increased its position in MarineMax by 97.0% during the 3rd quarter. SG Americas Securities LLC now owns 12,495 shares of the specialty retailer's stock valued at $410,000 after purchasing an additional 6,151 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in MarineMax by 244.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,226 shares of the specialty retailer's stock valued at $861,000 after purchasing an additional 18,614 shares during the period. Private Management Group Inc. increased its position in MarineMax by 0.7% during the 3rd quarter. Private Management Group Inc. now owns 401,861 shares of the specialty retailer's stock valued at $13,189,000 after purchasing an additional 2,801 shares during the period. Fifth Third Bancorp increased its position in MarineMax by 442.3% during the 3rd quarter. Fifth Third Bancorp now owns 770 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 628 shares during the period. Finally, Levin Capital Strategies L.P. increased its position in MarineMax by 19.1% during the 3rd quarter. Levin Capital Strategies L.P. now owns 708,439 shares of the specialty retailer's stock valued at $23,251,000 after purchasing an additional 113,850 shares during the period. Institutional investors own 92.85% of the company's stock.

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.