MarineMax (NYSE:HZO) Raised to “Hold” at StockNews.com

MarineMax (NYSE:HZO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

Other research analysts have also recently issued reports about the stock. Citigroup upgraded shares of MarineMax from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $44.00 in a report on Monday, September 9th. Benchmark started coverage on MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 target price for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Stock Performance

Shares of MarineMax stock opened at $31.69 on Monday. MarineMax has a 52 week low of $22.51 and a 52 week high of $39.85. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $31.06 and a 200-day moving average price of $32.03. The company has a market cap of $715.76 million, a PE ratio of 19.20 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, topping the consensus estimate of $0.18 by $0.06. The business had revenue of $563.10 million during the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. MarineMax’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. Equities analysts anticipate that MarineMax will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in MarineMax by 17.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,158 shares of the specialty retailer’s stock valued at $205,000 after purchasing an additional 924 shares during the period. Assenagon Asset Management S.A. increased its holdings in MarineMax by 342.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 29,785 shares of the specialty retailer’s stock worth $964,000 after acquiring an additional 23,057 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in MarineMax by 2.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,150 shares of the specialty retailer’s stock worth $652,000 after acquiring an additional 567 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in MarineMax by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 185,880 shares of the specialty retailer’s stock valued at $6,017,000 after purchasing an additional 3,867 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE lifted its holdings in MarineMax by 4.5% during the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 150,474 shares of the specialty retailer’s stock valued at $4,871,000 after purchasing an additional 6,470 shares during the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

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.