Truist Financial Lowers MarineMax (NYSE:HZO) Price Target to $26.00

MarineMax (NYSE:HZO) had its price target decreased by stock analysts at Truist Financial from $38.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price objective would suggest a potential upside of 46.64% from the company’s previous close.

Several other equities analysts have also commented on the company. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of MarineMax in a report on Friday, January 24th. B. Riley upgraded MarineMax to a “strong-buy” rating in a report on Wednesday, February 12th. StockNews.com upgraded MarineMax from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Finally, DA Davidson cut their price objective on shares of MarineMax from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, MarineMax has an average rating of “Buy” and a consensus price target of $38.50.

MarineMax Trading Down 5.6 %

NYSE:HZO opened at $17.73 on Monday. The stock has a fifty day moving average price of $23.82 and a 200 day moving average price of $27.97. The company has a current ratio of 1.19, a quick ratio of 0.24 and a debt-to-equity ratio of 0.35. MarineMax has a 12-month low of $16.85 and a 12-month high of $38.20. The firm has a market cap of $402.62 million, a PE ratio of 7.45 and a beta of 1.83.

MarineMax (NYSE:HZO) last announced its quarterly earnings data on Thursday, January 23rd. The specialty retailer reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.31. MarineMax had a return on equity of 4.96% and a net margin of 2.33%. Sell-side analysts anticipate that MarineMax will post 2.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Anthony E. Jr. Cassella sold 4,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $31.06, for a total value of $124,240.00. Following the completion of the sale, the chief accounting officer now directly owns 11,451 shares of the company’s stock, valued at approximately $355,668.06. This represents a 25.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clint Moore sold 4,100 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $30.63, for a total value of $125,583.00. Following the transaction, the director now directly owns 23,560 shares in the company, valued at approximately $721,642.80. This represents a 14.82 % decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.

Institutional Trading of MarineMax

Several hedge funds and other institutional investors have recently made changes to their positions in HZO. Smartleaf Asset Management LLC lifted its holdings in shares of MarineMax by 211.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,558 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 1,058 shares during the period. US Bancorp DE lifted its holdings in MarineMax by 49.6% in the fourth quarter. US Bancorp DE now owns 1,764 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 585 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of MarineMax during the 4th quarter worth $82,000. KLP Kapitalforvaltning AS acquired a new position in shares of MarineMax during the 4th quarter worth $113,000. Finally, Quantbot Technologies LP purchased a new position in shares of MarineMax in the 4th quarter valued at about $129,000. Hedge funds and other 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.