MarineMax (HZO) Rating Increased to Hold at Zacks Investment Research

MarineMax (NYSE:HZO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “MarineMax, Inc. is the nation’s largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Galeon, Grady-White, Harris, Crest, Scout, Sailfish, Sea Pro, Scarab Jet Boats, Aquila, and Nautique, MarineMax sells new and used recreational boats and related marine products and services as well as provides yacht brokerage and charter services. MarineMax currently has 62 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands. “

Other analysts have also issued reports about the company. Citigroup dropped their target price on MarineMax from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, August 15th. B. Riley raised MarineMax from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $23.50 to $27.00 in a research report on Friday, July 27th. ValuEngine raised MarineMax from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Craig Hallum lowered MarineMax from a “buy” rating to a “hold” rating in a research report on Monday, June 25th. Finally, Wedbush dropped their target price on MarineMax from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, July 27th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. MarineMax has a consensus rating of “Hold” and a consensus price target of $24.50.

Shares of NYSE HZO opened at $21.40 on Wednesday. MarineMax has a 1 year low of $15.05 and a 1 year high of $25.05. The stock has a market cap of $582.89 million, a PE ratio of 21.40 and a beta of 1.27.

MarineMax (NYSE:HZO) last announced its earnings results on Thursday, July 26th. The specialty retailer reported $0.79 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.79. MarineMax had a return on equity of 10.83% and a net margin of 2.83%. The business had revenue of $361.25 million for the quarter, compared to analyst estimates of $370.13 million. During the same period in the previous year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. research analysts predict that MarineMax will post 1.51 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in MarineMax by 6.3% in the second quarter. BlackRock Inc. now owns 3,110,799 shares of the specialty retailer’s stock valued at $58,949,000 after buying an additional 183,082 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in MarineMax by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,245,923 shares of the specialty retailer’s stock valued at $43,683,000 after buying an additional 31,883 shares during the last quarter. Carillon Tower Advisers Inc. increased its holdings in MarineMax by 3.8% in the second quarter. Carillon Tower Advisers Inc. now owns 1,861,655 shares of the specialty retailer’s stock valued at $35,278,000 after buying an additional 67,605 shares during the last quarter. WINTON GROUP Ltd increased its holdings in MarineMax by 75.5% in the second quarter. WINTON GROUP Ltd now owns 458,925 shares of the specialty retailer’s stock valued at $8,697,000 after buying an additional 197,449 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in MarineMax by 31.7% in the second quarter. Royce & Associates LP now owns 378,100 shares of the specialty retailer’s stock valued at $7,165,000 after buying an additional 91,000 shares during the last quarter. 89.20% of the stock is owned by hedge funds and other institutional investors.

About MarineMax

MarineMax, Inc operates as a recreational boat and yacht retailer in the United States. It sells new and used recreational boats, including pleasure boats, such as sport boats, sport cruisers, sport yachts, and other yachts; motor yachts; convertible yachts; pleasure boats; pontoon boats; fishing boats; ski boats; and jet boats.

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