MarineMax (NYSE:HZO) Shares Up 5.8% – What’s Next?

MarineMax, Inc. (NYSE:HZO)’s share price shot up 5.8% on Friday . The company traded as high as $30.60 and last traded at $30.60. 17,754 shares were traded during trading, a decline of 94% from the average session volume of 310,500 shares. The stock had previously closed at $28.91.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HZO. Citigroup upgraded MarineMax from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $44.00 in a report on Monday, September 9th. Stifel Nicolaus upped their target price on MarineMax from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Truist Financial increased their price objective on MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a report on Friday, July 26th. B. Riley decreased their price objective on MarineMax from $48.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, Benchmark began coverage on MarineMax in a report on Tuesday, October 15th. They set a “buy” rating and a $40.00 price objective for the company. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat, MarineMax currently has an average rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Stock Performance

The company has a current ratio of 1.20, a quick ratio of 0.36 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $32.05 and a 200-day moving average of $31.00. The stock has a market capitalization of $669.38 million, a price-to-earnings ratio of 13.95 and a beta of 1.82.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, July 25th. The specialty retailer reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.16. MarineMax had a return on equity of 6.26% and a net margin of 2.00%. The firm had revenue of $757.72 million for the quarter, compared to the consensus estimate of $720.30 million. During the same period in the prior year, the firm earned $2.07 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts predict that MarineMax, Inc. will post 2.06 earnings per share for the current year.

Hedge Funds Weigh In On MarineMax

Several hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of MarineMax by 212.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 93,056 shares of the specialty retailer’s stock valued at $3,282,000 after acquiring an additional 63,271 shares during the period. Bfsg LLC grew its position in MarineMax by 19.1% during the 3rd quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock worth $150,000 after purchasing an additional 681 shares during the period. Exchange Traded Concepts LLC acquired a new stake in MarineMax during the 3rd quarter worth about $301,000. Shellback Capital LP grew its position in MarineMax by 44.1% during the 2nd quarter. Shellback Capital LP now owns 295,633 shares of the specialty retailer’s stock worth $9,570,000 after purchasing an additional 90,476 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in MarineMax by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer’s stock worth $267,000 after purchasing an additional 408 shares during the period. 92.85% of the stock is owned by institutional investors and hedge funds.

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.