MarineMax (NYSE:HZO) Shares Down 4.3%

MarineMax, Inc. (NYSE:HZO)’s share price traded down 4.3% on Tuesday . The company traded as low as $31.76 and last traded at $31.76. 94,667 shares traded hands during trading, a decline of 71% from the average session volume of 324,251 shares. The stock had previously closed at $33.20.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. B. Riley dropped their target price on shares of MarineMax from $48.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. DA Davidson raised their price objective on shares of MarineMax from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus raised their price objective on shares of MarineMax from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Truist Financial lowered their price objective on shares of MarineMax from $40.00 to $35.00 and set a “buy” rating for the company in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.50.

MarineMax Stock Up 17.3 %

The company’s fifty day simple moving average is $32.12 and its 200 day simple moving average is $30.88. The firm has a market capitalization of $828.45 million, a PE ratio of 13.46 and a beta of 1.83. 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 released its earnings results on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $590.19 million. During the same quarter in the previous year, the business posted $1.23 earnings per share. MarineMax’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts anticipate that MarineMax, Inc. will post 2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarineMax

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of MarineMax by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,468,991 shares of the specialty retailer’s stock valued at $48,859,000 after purchasing an additional 29,473 shares during the last quarter. Levin Capital Strategies L.P. increased its position in shares of MarineMax by 140.6% during the first quarter. Levin Capital Strategies L.P. now owns 1,045,514 shares of the specialty retailer’s stock valued at $34,774,000 after acquiring an additional 610,994 shares in the last quarter. Broad Bay Capital Management LP increased its position in shares of MarineMax by 34.1% during the fourth quarter. Broad Bay Capital Management LP now owns 704,034 shares of the specialty retailer’s stock valued at $27,387,000 after acquiring an additional 179,034 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of MarineMax by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 456,701 shares of the specialty retailer’s stock valued at $17,766,000 after acquiring an additional 31,856 shares in the last quarter. Finally, Private Management Group Inc. increased its position in shares of MarineMax by 6.1% during the first quarter. Private Management Group Inc. now owns 448,313 shares of the specialty retailer’s stock valued at $14,911,000 after acquiring an additional 25,670 shares in the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

MarineMax Company Profile

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.