MarineMax (NYSE:HZO) Price Target Raised to $34.00

MarineMax (NYSE:HZO) had its price target upped by B. Riley from $33.00 to $34.00 in a report issued on Thursday, The Fly reports.

Several other brokerages have also commented on HZO. Zacks Investment Research upgraded MarineMax from a hold rating to a strong-buy rating and set a $33.00 price target on the stock in a research note on Thursday. Craig Hallum increased their target price on shares of MarineMax from $16.00 to $24.00 and gave the stock a buy rating in a report on Monday, June 29th. ValuEngine upgraded shares of MarineMax from a strong sell rating to a sell rating in a report on Tuesday, September 22nd. Northcoast Research reiterated a buy rating on shares of MarineMax in a research note on Wednesday, July 22nd. Finally, Raymond James reissued a buy rating on shares of MarineMax in a research note on Thursday, October 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $27.92.

Shares of HZO stock opened at $29.24 on Thursday. The company has a market capitalization of $632.40 million, a P/E ratio of 11.56 and a beta of 1.91. The company’s 50-day simple moving average is $26.48 and its two-hundred day simple moving average is $22.09. MarineMax has a one year low of $7.24 and a one year high of $34.06.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, July 23rd. The specialty retailer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.86. The firm had revenue of $498.30 million during the quarter, compared to analyst estimates of $414.69 million. MarineMax had a return on equity of 14.68% and a net margin of 3.93%. MarineMax’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 earnings per share. As a group, analysts expect that MarineMax will post 2.61 earnings per share for the current fiscal year.

In other news, CFO Michael H. Mclamb sold 10,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $25.87, for a total transaction of $258,700.00. Following the completion of the sale, the chief financial officer now owns 97,840 shares in the company, valued at approximately $2,531,120.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Evelyn V. Follit sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $29.76, for a total value of $148,800.00. Following the completion of the sale, the director now directly owns 26,390 shares of the company’s stock, valued at approximately $785,366.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,335 shares of company stock valued at $2,209,691. 4.40% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Private Advisor Group LLC acquired a new stake in MarineMax in the second quarter worth about $26,000. Public Employees Retirement System of Ohio raised its position in shares of MarineMax by 85.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,206 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 557 shares during the last quarter. FDx Advisors Inc. acquired a new stake in MarineMax in the 1st quarter worth approximately $34,000. USA Financial Portformulas Corp purchased a new stake in MarineMax during the 3rd quarter worth approximately $34,000. Finally, Denali Advisors LLC acquired a new position in MarineMax during the 3rd quarter valued at approximately $100,000.

MarineMax Company Profile

MarineMax, Inc operates as a recreational boat and yacht retailer in the United States. The company sells new and used recreational boats, including pleasure boats, such as sport boats, sport cruisers, sport yachts, and other yachts; fishing boats; motor and convertible yachts; pontoon boats; fishing boats; ski boats; and jet boats.

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Analyst Recommendations for MarineMax (NYSE:HZO)

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