Zacks Investment Research upgraded shares of MarineMax (NYSE:HZO) from a hold rating to a strong-buy rating in a research note released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $33.00 price objective on the specialty retailer’s stock.
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. “
A number of other research analysts have also recently issued reports on the stock. ValuEngine upgraded shares of MarineMax from a strong sell rating to a sell rating in a report on Tuesday, September 22nd. Raymond James reiterated a buy rating on shares of MarineMax in a report on Thursday, October 1st. Craig Hallum raised their price target on shares of MarineMax from $16.00 to $24.00 and gave the company a buy rating in a research report on Monday, June 29th. Northcoast Research reissued a buy rating on shares of MarineMax in a research report on Wednesday, July 22nd. Finally, B. Riley reissued a buy rating and set a $28.00 price target on shares of MarineMax in a research report on Wednesday, July 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. MarineMax presently has a consensus rating of Buy and an average price target of $27.92.
MarineMax (NYSE:HZO) last issued its quarterly earnings data 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 analysts’ expectations of $414.69 million. MarineMax had a net margin of 3.93% and a return on equity of 14.68%. The business’s revenue was up 29.9% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. On average, research analysts forecast that MarineMax will post 2.61 EPS for the current year.
In other MarineMax news, Chairman William H. Mcgill, Jr. sold 10,322 shares of MarineMax stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $30.07, for a total value of $310,382.54. Following the sale, the chairman now owns 319,093 shares of the company’s stock, valued at $9,595,126.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman William H. Mcgill, Jr. sold 20,000 shares of MarineMax stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $32.06, for a total transaction of $641,200.00. Insiders have sold 73,335 shares of company stock worth $2,209,691 over the last three months. 4.40% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Denali Advisors LLC bought a new stake in MarineMax in the third quarter worth about $100,000. Campbell & CO Investment Adviser LLC bought a new stake in MarineMax in the third quarter worth about $656,000. Diversified Trust Co bought a new stake in MarineMax in the third quarter worth about $213,000. Bowling Portfolio Management LLC bought a new stake in MarineMax in the third quarter worth about $241,000. Finally, USA Financial Portformulas Corp bought a new stake in MarineMax in the third quarter worth about $34,000.
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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