MarineMax (NYSE:HZO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, January 4th.
According to Zacks, “MarineMax, Inc. is the nation’s largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Galeon, Grady-White, Harris, Crest, Scout, Sailfish, Sea Pro, Scarab Jet Boats, Aquila, and Nautique, MarineMax sells new and used recreational boats and related marine products and services as well as provides yacht brokerage and charter services. MarineMax currently has 62 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands. “
HZO has been the topic of several other research reports. Citigroup lifted their price objective on shares of MarineMax from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. CL King started coverage on shares of MarineMax in a research note on Monday, November 13th. They issued a “neutral” rating on the stock. Craig Hallum set a $21.00 target price on shares of MarineMax and gave the stock a “buy” rating in a research report on Tuesday, October 31st. B. Riley reissued a “buy” rating and issued a $19.75 target price on shares of MarineMax in a research report on Thursday, October 26th. Finally, TheStreet raised shares of MarineMax from a “c+” rating to a “b” rating in a research report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.00.
MarineMax (NYSE:HZO) opened at $19.60 on Thursday. The stock has a market cap of $522.89, a PE ratio of 20.42, a PEG ratio of 0.56 and a beta of 1.05. MarineMax has a 52-week low of $13.80 and a 52-week high of $23.65.
MarineMax (NYSE:HZO) last released its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. MarineMax had a net margin of 2.24% and a return on equity of 7.82%. The company had revenue of $250.62 million for the quarter, compared to the consensus estimate of $231.96 million. During the same period in the previous year, the firm earned $0.18 EPS. MarineMax’s revenue was up 10.2% on a year-over-year basis. sell-side analysts forecast that MarineMax will post 1.17 EPS for the current year.
In other MarineMax news, VP Michael H. Mclamb sold 10,000 shares of MarineMax stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.10, for a total value of $211,000.00. Following the completion of the sale, the vice president now directly owns 21,500 shares in the company, valued at $453,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman William H. Mcgill, Jr. sold 35,000 shares of MarineMax stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.03, for a total transaction of $736,050.00. Following the completion of the sale, the chairman now owns 281,640 shares of the company’s stock, valued at $5,922,889.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,900 shares of company stock valued at $2,083,440. 5.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its stake in shares of MarineMax by 58.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,348 shares of the specialty retailer’s stock worth $144,000 after buying an additional 2,699 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of MarineMax in the third quarter worth $182,000. Arizona State Retirement System lifted its stake in shares of MarineMax by 0.8% in the second quarter. Arizona State Retirement System now owns 12,722 shares of the specialty retailer’s stock worth $249,000 after buying an additional 100 shares during the last quarter. CAPROCK Group Inc. acquired a new stake in shares of MarineMax in the third quarter worth $213,000. Finally, Voya Investment Management LLC lifted its stake in shares of MarineMax by 17.0% in the second quarter. Voya Investment Management LLC now owns 12,935 shares of the specialty retailer’s stock worth $253,000 after buying an additional 1,881 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.
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MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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