MarineMax (NYSE:HZO) Shares Gap Up Following Analyst Upgrade

Shares of MarineMax, Inc. (NYSE:HZO) gapped up before the market opened on Thursday after DA Davidson raised their price target on the stock from $34.00 to $37.00. The stock had previously closed at $31.66, but opened at $35.00. DA Davidson currently has a buy rating on the stock. MarineMax shares last traded at $34.51, with a volume of 11,186 shares.

Several other equities research analysts have also recently commented on HZO. Truist Financial cut their target price on MarineMax from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. B. Riley cut their price objective on shares of MarineMax from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus raised their target price on shares of MarineMax from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, MarineMax presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Institutional Investors Weigh In On MarineMax

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bfsg LLC bought a new stake in MarineMax during the fourth quarter worth $133,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MarineMax by 25.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the specialty retailer’s stock valued at $135,000 after purchasing an additional 696 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of MarineMax by 17.7% in the 1st 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. Arizona State Retirement System bought a new position in MarineMax during the fourth quarter worth about $214,000. Finally, Capstone Investment Advisors LLC acquired a new position in MarineMax during the fourth quarter worth approximately $220,000. Institutional investors own 92.85% of the company’s stock.

MarineMax Stock Up 11.5 %

The stock has a market cap of $787.41 million, a P/E ratio of 12.79 and a beta of 1.83. The firm has a 50 day simple moving average of $31.92 and a 200-day simple moving average of $30.84. The company has a quick ratio of 0.34, a current ratio of 1.24 and a debt-to-equity ratio of 0.40.

MarineMax (NYSE:HZO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.55). MarineMax had a net margin of 2.56% and a return on equity of 7.66%. The business had revenue of $582.90 million during the quarter, compared to the consensus estimate of $590.19 million. During the same quarter last year, the company posted $1.23 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that MarineMax, Inc. will post 2.22 earnings per share for the current fiscal year.

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.