MarineMax, Inc. (NYSE:HZO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $24.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 10.85% from the company’s previous close.
According to Zacks, “MarineMax, Inc. is a recreational boat dealer in the United States. Through retail locations, the company sells new and used recreational boats and fishing boats with a focus on premium brands in each segment. “
Other analysts also recently issued research reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $22.50 price target on shares of MarineMax in a report on Sunday, November 6th. Wedbush upped their price target on shares of MarineMax from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, January 25th. TheStreet downgraded shares of MarineMax from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Citigroup Inc. began coverage on shares of MarineMax in a report on Friday. They issued a “buy” rating and a $26.00 price target on the stock. Finally, SunTrust Banks, Inc. set a $24.00 price target on shares of MarineMax and gave the company a “buy” rating in a report on Wednesday, November 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. MarineMax presently has a consensus rating of “Buy” and an average target price of $24.50.
Shares of MarineMax (NYSE:HZO) traded up 0.70% during mid-day trading on Tuesday, hitting $21.65. 243,698 shares of the stock were exchanged. The company has a 50-day moving average of $19.78 and a 200 day moving average of $19.64. The stock has a market cap of $524.86 million, a PE ratio of 21.89 and a beta of 0.91. MarineMax has a one year low of $14.99 and a one year high of $22.05.
MarineMax (NYSE:HZO) last released its quarterly earnings data on Tuesday, January 24th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.13. The firm had revenue of $226.90 million for the quarter, compared to the consensus estimate of $187.02 million. MarineMax had a net margin of 2.47% and a return on equity of 7.78%. The firm’s revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. On average, equities analysts predict that MarineMax will post $1.26 earnings per share for the current year.
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In related news, EVP Charles A. Cashman sold 9,286 shares of the company’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $18.66, for a total transaction of $173,276.76. Following the transaction, the executive vice president now owns 6,712 shares of the company’s stock, valued at $125,245.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hilliard M. Eure sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $20.09, for a total transaction of $180,810.00. Following the transaction, the director now directly owns 14,000 shares in the company, valued at approximately $281,260. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of HZO. Pacad Investment Ltd. raised its position in shares of MarineMax by 307.1% in the fourth quarter. Pacad Investment Ltd. now owns 5,700 shares of the company’s stock valued at $110,000 after buying an additional 4,300 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of MarineMax by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,400 shares of the company’s stock valued at $113,000 after buying an additional 90 shares during the period. Royce & Associates LP raised its position in shares of MarineMax by 40.7% in the fourth quarter. Royce & Associates LP now owns 7,600 shares of the company’s stock valued at $147,000 after buying an additional 2,200 shares during the period. GSA Capital Partners LLP bought a new position in shares of MarineMax during the fourth quarter valued at approximately $195,000. Finally, Aperio Group LLC bought a new position in shares of MarineMax during the third quarter valued at approximately $223,000. 94.05% of the stock is owned by hedge funds and other institutional investors.
MarineMax Company Profile
MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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