Wall Street Zen Downgrades MarineMax (NYSE:HZO) to Sell

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.

MarineMax (NYSE:HZO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Several other analysts have also weighed in on the company. Citigroup reissued a "buy" rating and issued a $32.00 price objective (up from $29.00) on shares of MarineMax in a report on Monday, June 16th. Truist Financial lowered their price objective on MarineMax from $38.00 to $26.00 and set a "buy" rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $33.25.

MarineMax Stock Performance

NYSE:HZO opened at $23.02 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.21 and a quick ratio of 0.31. The firm has a 50-day moving average of $24.51 and a two-hundred day moving average of $24.46. The stock has a market cap of $494.20 million, a P/E ratio of -17.18 and a beta of 1.60. MarineMax has a 1-year low of $16.85 and a 1-year high of $38.20.

MarineMax (NYSE:HZO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.67). The firm had revenue of $657.16 million during the quarter, compared to analysts' expectations of $737.82 million. MarineMax had a negative net margin of 1.15% and a positive return on equity of 2.63%. The business's quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 earnings per share. On average, research analysts expect that MarineMax will post 2.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarineMax

A number of large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in MarineMax by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,375 shares of the specialty retailer's stock worth $358,000 after acquiring an additional 532 shares during the last quarter. SWS Partners lifted its holdings in MarineMax by 3.4% in the first quarter. SWS Partners now owns 21,243 shares of the specialty retailer's stock worth $457,000 after acquiring an additional 691 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in MarineMax by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 26,123 shares of the specialty retailer's stock worth $657,000 after acquiring an additional 755 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in MarineMax by 3.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 28,879 shares of the specialty retailer's stock worth $836,000 after acquiring an additional 1,006 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in MarineMax by 12.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,961 shares of the specialty retailer's stock worth $375,000 after acquiring an additional 1,456 shares during the last quarter. 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.

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