MarineMax (NYSE:HZO) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of MarineMax (NYSE:HZO) from a sell rating to a hold rating in a report issued on Thursday.

A number of other analysts also recently issued reports on the company. Benchmark initiated coverage on MarineMax in a research note on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price objective on the stock. Citigroup raised shares of MarineMax from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $44.00 in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.83.

MarineMax Trading Up 0.4 %

MarineMax stock opened at $28.66 on Thursday. MarineMax has a 1 year low of $22.51 and a 1 year high of $39.85. The firm’s 50 day moving average price is $30.69 and its 200-day moving average price is $31.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.34. The stock has a market cap of $647.57 million, a P/E ratio of 17.37 and a beta of 1.87.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The company had revenue of $563.10 million for the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. MarineMax’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. On average, equities analysts predict that MarineMax will post 2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MarineMax

Institutional investors have recently made changes to their positions in the company. Portolan Capital Management LLC purchased a new position in shares of MarineMax during the third quarter valued at approximately $11,271,000. Algert Global LLC purchased a new position in MarineMax during the 3rd quarter valued at $4,949,000. Concentric Capital Strategies LP bought a new position in MarineMax in the 3rd quarter valued at $4,832,000. Royce & Associates LP increased its stake in MarineMax by 45.2% in the third quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer’s stock worth $13,008,000 after purchasing an additional 114,880 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of MarineMax by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock worth $46,767,000 after purchasing an additional 110,601 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.