MarineMax (NYSE:HZO) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen has downgraded MarineMax from a "hold" rating to a "sell" rating, while other analysts have provided mixed ratings with some maintaining a "buy" position.
• MarineMax reported earnings of $0.49 per share, significantly missing analysts' expectations of $1.16, and experienced a year-over-year revenue decline of 13.3%.
• Institutional investors currently own nearly 92.85% of MarineMax's stock, indicating significant investor interest despite the recent downgrade.

Wall Street Zen lowered shares of MarineMax (NYSE:HZO - Free Report) from a hold rating to a sell rating in a research report released on Saturday morning.

Several other brokerages also recently issued reports on HZO. Citigroup reissued a "buy" rating and set a $32.00 price objective (up from $29.00) on shares of MarineMax in a research report on Monday, June 16th. Truist Financial lowered their price objective on shares of MarineMax from $38.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, MarineMax currently has an average rating of "Moderate Buy" and a consensus target price of $33.25.

MarineMax Stock Up 1.3%

MarineMax stock traded up $0.28 during mid-day trading on Friday, reaching $22.47. 512,306 shares of the company's stock were exchanged, compared to its average volume of 337,089. The company has a market cap of $482.21 million, a P/E ratio of -16.77 and a beta of 1.60. MarineMax has a twelve month low of $16.85 and a twelve month high of $37.86. 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 company has a fifty day moving average of $24.48 and a 200-day moving average of $24.39.

MarineMax (NYSE:HZO - Get Free Report) last released its earnings results on Thursday, July 24th. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $657.16 million for the quarter, compared to analyst estimates of $737.82 million. During the same quarter last year, the company earned $1.51 earnings per share. MarineMax's quarterly revenue was down 13.3% compared to the same quarter last year. Sell-side analysts expect that MarineMax will post 2.41 EPS for the current year.

Institutional Trading of MarineMax

A number of institutional investors have recently added to or reduced their stakes in HZO. Divisadero Street Capital Management LP purchased a new stake in MarineMax in the fourth quarter valued at approximately $8,503,000. CenterBook Partners LP boosted its stake in shares of MarineMax by 155.8% in the first quarter. CenterBook Partners LP now owns 444,739 shares of the specialty retailer's stock valued at $9,562,000 after purchasing an additional 270,859 shares during the period. Broad Bay Capital Management LP raised its holdings in MarineMax by 22.6% in the first quarter. Broad Bay Capital Management LP now owns 843,756 shares of the specialty retailer's stock valued at $18,141,000 after acquiring an additional 155,750 shares in the last quarter. Interval Partners LP grew its position in shares of MarineMax by 181.2% during the first quarter. Interval Partners LP now owns 241,139 shares of the specialty retailer's stock worth $5,184,000 after acquiring an additional 155,382 shares during the last quarter. Finally, Levin Capital Strategies L.P. grew its position in MarineMax by 42.3% in the 1st quarter. Levin Capital Strategies L.P. now owns 508,287 shares of the specialty retailer's stock valued at $10,928,000 after buying an additional 150,976 shares in the last quarter. Hedge funds and other institutional investors 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.