StockNews.com Downgrades MarineMax (NYSE:HZO) to Sell

MarineMax (NYSE:HZO) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

HZO has been the topic of several other research reports. DA Davidson raised their target price on shares of MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. B. Riley decreased their price objective on shares of MarineMax from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Truist Financial increased their target price on MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus lifted their price target on MarineMax from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, MarineMax currently has an average rating of “Moderate Buy” and a consensus target price of $41.75.

MarineMax Trading Up 7.3 %

Shares of HZO traded up $2.18 during midday trading on Friday, hitting $32.20. 215,172 shares of the stock were exchanged, compared to its average volume of 329,640. MarineMax has a 52-week low of $22.51 and a 52-week high of $39.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.36 and a current ratio of 1.20. The stock has a fifty day simple moving average of $32.47 and a 200 day simple moving average of $30.75. The firm has a market cap of $718.09 million, a P/E ratio of 11.67 and a beta of 1.84.

MarineMax (NYSE:HZO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.16. MarineMax had a return on equity of 6.26% and a net margin of 2.00%. The company had revenue of $757.72 million during the quarter, compared to analysts’ expectations of $720.30 million. During the same period last year, the business posted $2.07 EPS. MarineMax’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, research analysts anticipate that MarineMax will post 2.33 EPS for the current fiscal year.

Institutional Trading of MarineMax

Several large investors have recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new position in MarineMax during the second quarter worth about $52,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in MarineMax by 25.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the specialty retailer’s stock worth $135,000 after acquiring an additional 696 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in MarineMax in the fourth quarter valued at about $220,000. Price T Rowe Associates Inc. MD increased its stake in MarineMax by 17.7% during the first 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 last quarter. Finally, Versor Investments LP bought a new stake in shares of MarineMax during the 4th quarter valued at about $284,000. 92.85% of the stock is currently owned by institutional investors and hedge funds.

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.