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

StockNews.com downgraded shares of MarineMax (NYSE:HZO) from a hold rating to a sell rating in a report issued on Wednesday morning.

A number of other research analysts also recently issued reports on HZO. Citigroup upgraded shares of MarineMax from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $44.00 in a research report on Monday, September 9th. Benchmark initiated coverage on shares of MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 target price on the stock. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Stock Performance

Shares of MarineMax stock opened at $28.35 on Wednesday. The stock has a market cap of $640.57 million, a price-to-earnings ratio of 17.18 and a beta of 1.87. MarineMax has a twelve month low of $22.51 and a twelve month high of $39.85. The company’s fifty day moving average is $30.96 and its 200 day moving average is $32.06. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. The company had revenue of $563.10 million during the quarter, compared to analysts’ expectations of $576.49 million. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. Sell-side analysts forecast that MarineMax will post 2.33 EPS for the current year.

Hedge Funds Weigh In On MarineMax

Several institutional investors have recently made changes to their positions in HZO. Portolan Capital Management LLC acquired a new stake in shares of MarineMax in the 3rd quarter valued at about $11,271,000. Algert Global LLC bought a new position in MarineMax in the third quarter worth approximately $4,949,000. Concentric Capital Strategies LP acquired a new stake in MarineMax in the third quarter valued at approximately $4,832,000. Royce & Associates LP increased its holdings in shares of MarineMax by 45.2% during the third quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer’s stock valued at $13,008,000 after acquiring an additional 114,880 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of MarineMax by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock worth $46,767,000 after purchasing an additional 110,601 shares during the period. Institutional investors and hedge funds own 92.85% of the company’s stock.

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.