MarineMax (NYSE:HZO) Cut to “Sell” at StockNews.com

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

Separately, Benchmark started coverage on MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Trading Down 3.7 %

Shares of NYSE:HZO traded down $1.03 during mid-day trading on Wednesday, hitting $26.75. The stock had a trading volume of 230,502 shares, compared to its average volume of 213,160. MarineMax has a 12-month low of $22.51 and a 12-month high of $38.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.34 and a current ratio of 1.19. The company has a market cap of $604.42 million, a PE ratio of 16.21 and a beta of 1.89. The company’s 50 day moving average is $30.32 and its 200-day moving average is $31.56.

MarineMax (NYSE:HZO) last issued its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. The business 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%. MarineMax’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. On average, sell-side analysts predict that MarineMax will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MarineMax

Several large investors have recently made changes to their positions in HZO. Canada Pension Plan Investment Board acquired a new stake in MarineMax in the second quarter valued at approximately $52,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of MarineMax during the 3rd quarter valued at $67,000. Point72 Asset Management L.P. acquired a new stake in shares of MarineMax in the 3rd quarter valued at $143,000. Bfsg LLC boosted its holdings in MarineMax by 19.1% in the third quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock worth $150,000 after purchasing an additional 681 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new position in MarineMax during the third quarter worth $183,000. Institutional investors 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.