MarineMax (NYSE:HZO) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of MarineMax (NYSE:HZO) from a hold rating to a sell rating in a research report released on Wednesday.

Separately, Benchmark began coverage on shares of MarineMax in a report on Tuesday, October 15th. They set a “buy” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, MarineMax has an average rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Stock Down 1.0 %

MarineMax stock opened at $26.50 on Wednesday. The firm has a 50 day moving average price of $30.16 and a 200-day moving average price of $31.44. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. MarineMax has a twelve month low of $22.51 and a twelve month high of $38.20. The company has a market capitalization of $598.77 million, a P/E ratio of 16.06 and a beta of 1.89.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The business had revenue of $563.10 million during the quarter, compared to the consensus estimate of $576.49 million. During the same period last year, the business posted $0.69 earnings per share. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities analysts predict that MarineMax will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MarineMax

Several hedge funds and other institutional investors have recently modified their holdings of HZO. Portolan Capital Management LLC purchased a new stake in shares of MarineMax in the third quarter worth $11,271,000. Algert Global LLC purchased a new stake in shares of MarineMax in the 3rd quarter valued at about $4,949,000. Concentric Capital Strategies LP bought a new stake in shares of MarineMax during the 3rd quarter valued at about $4,832,000. Royce & Associates LP grew its holdings in shares of MarineMax by 45.2% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of MarineMax by 8.3% in 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. 92.85% of the stock is currently owned by institutional investors.

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.