MarineMax (NYSE:HZO) Reaches New 12-Month High - What's Next?

Key Points

• MarineMax shares reached a new 52-week high of $52.76 and last traded at $52.65, significantly above the 200-day moving average of $37.23.
• Analyst sentiment remains cautious: the consensus rating is “Hold” from eight analysts, with an average price target of $44.67—below the current share price—despite some target increases to $53.
• Institutional investors own approximately 92.85% of MarineMax stock, with several firms recently initiating or increasing positions during the third quarter.

MarineMax, Inc. (NYSE:HZO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday. The stock traded as high as $52.76 and last traded at $52.65, with a volume of 987,612 shares. The stock had previously closed at $52.59.

Wall Street Analysts Forecast Growth

HZO has been the subject of a number of recent analyst reports. Benchmark cut MarineMax from a "buy" rating to a "hold" rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of MarineMax from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Northcoast Research downgraded MarineMax from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 12th. Citigroup lowered shares of MarineMax from a "buy" rating to a "neutral" rating and raised their target price for the company from $41.00 to $53.00 in a research report on Friday, October 2nd. Finally, Truist Financial lowered shares of MarineMax from a "buy" rating to a "hold" rating and lifted their price target for the stock from $39.00 to $53.00 in a report on Wednesday, August 12th. Eight research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $44.67.

MarineMax Price Performance

The company has a current ratio of 1.23, a quick ratio of 0.34 and a debt-to-equity ratio of 0.35. The business's 50 day moving average price is $52.34 and its two-hundred day moving average price is $37.23. The stock has a market cap of $1.16 billion, a P/E ratio of 376.07 and a beta of 1.70.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HZO. ProShare Advisors LLC acquired a new position in shares of MarineMax during the third quarter worth $511,000. Vise Technologies Inc. purchased a new position in MarineMax in the third quarter valued at about $367,000. Yousif Capital Management LLC purchased a new position in shares of MarineMax during the third quarter valued at $260,000. Nisa Investment Advisors LLC increased its position in shares of MarineMax by 42.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,754 shares of the specialty retailer's stock valued at $92,000 after buying an additional 519 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in MarineMax by 29.1% during the third quarter. GAMMA Investing LLC now owns 2,505 shares of the specialty retailer's stock worth $131,000 after purchasing an additional 564 shares during the last quarter. Hedge funds and other institutional investors own 92.85% of the company's stock.

About MarineMax

MarineMax, Inc is a recreational boat and yacht retailer based in Clearwater, Florida. The company sells new and pre-owned powerboats, sailboats, yachts and related marine products through a network of dealerships and brokerage operations.

In addition to boat sales, MarineMax provides maintenance, repair, storage, parts and other marina services. It also offers financing and insurance products through third-party relationships, as well as charter, yacht-management and boating-lifestyle services through its affiliated businesses.

MarineMax serves customers primarily in the United States, with operations concentrated in boating markets including Florida, the Northeast, the Midwest and other coastal and inland regions.

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