MarineMax, Inc. (NYSE:HZO) Receives Average Recommendation of “Moderate Buy” from Analysts

MarineMax, Inc. (NYSE:HZO) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $30.80.

Several equities research analysts have recently weighed in on the stock. National Bank Financial set a $35.00 target price on shares of MarineMax in a research note on Friday, January 30th. Loop Capital began coverage on MarineMax in a research report on Monday, December 22nd. They issued a “buy” rating and a $29.00 price target on the stock. Benchmark reaffirmed a “buy” rating on shares of MarineMax in a research note on Friday, January 30th. Zacks Research raised MarineMax from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Citigroup reiterated a “buy” rating on shares of MarineMax in a research note on Wednesday, January 14th.

MarineMax Stock Performance

Shares of MarineMax stock opened at $27.83 on Tuesday. The firm’s fifty day simple moving average is $27.89 and its 200-day simple moving average is $26.25. The stock has a market capitalization of $613.10 million, a price-to-earnings ratio of -10.39 and a beta of 1.65. MarineMax has a 12 month low of $16.85 and a 12 month high of $32.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.19 and a quick ratio of 0.29.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). MarineMax had a positive return on equity of 1.13% and a negative net margin of 2.46%.The business had revenue of $505.18 million for the quarter, compared to analyst estimates of $481.67 million. During the same quarter in the prior year, the company earned $0.17 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that MarineMax will post 2.41 earnings per share for the current year.

MarineMax declared that its Board of Directors has approved a share buyback program on Wednesday, March 4th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the specialty retailer to buy up to 15.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of MarineMax

Several hedge funds and other institutional investors have recently made changes to their positions in HZO. Nisa Investment Advisors LLC raised its holdings in MarineMax by 54.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,056 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 374 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in MarineMax by 93.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,672 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 808 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in MarineMax by 129.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,313 shares of the specialty retailer’s stock valued at $135,000 after purchasing an additional 2,996 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in MarineMax during the 1st quarter worth approximately $168,000. Finally, DRW Securities LLC acquired a new position in MarineMax during the 4th quarter worth approximately $218,000. Hedge funds and other institutional investors own 92.85% of the company’s stock.

MarineMax Company Profile

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.