MarineMax (NYSE:HZO) Receives New Coverage from Analysts at Benchmark

Benchmark began coverage on shares of MarineMax (NYSE:HZO) in a research report sent to investors on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $40.00 target price on the specialty retailer’s stock.

A number of other brokerages have also recently weighed in on HZO. Citigroup upgraded MarineMax from a neutral rating to a buy rating and boosted their price objective for the company from $40.00 to $44.00 in a research note on Monday, September 9th. Truist Financial raised their price objective on shares of MarineMax from $35.00 to $44.00 and gave the stock a buy rating in a research report on Friday, July 26th. Stifel Nicolaus upped their target price on shares of MarineMax from $35.00 to $40.00 and gave the company a buy rating in a report on Friday, July 12th. B. Riley lowered their price target on MarineMax from $48.00 to $46.00 and set a buy rating on the stock in a report on Wednesday, July 10th. Finally, DA Davidson boosted their price target on MarineMax from $34.00 to $37.00 and gave the company a buy rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $41.83.

MarineMax Price Performance

HZO stock opened at $33.25 on Tuesday. The business has a 50 day moving average price of $31.89 and a 200 day moving average price of $31.02. The company has a quick ratio of 0.36, a current ratio of 1.20 and a debt-to-equity ratio of 0.37. The stock has a market cap of $741.51 million, a price-to-earnings ratio of 12.05 and a beta of 1.82. MarineMax has a fifty-two week low of $22.51 and a fifty-two week high of $39.85.

MarineMax (NYSE:HZO) last issued its earnings results on Thursday, July 25th. The specialty retailer reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.16. MarineMax had a net margin of 2.00% and a return on equity of 6.26%. The business had revenue of $757.72 million during the quarter, compared to analysts’ expectations of $720.30 million. During the same quarter in the prior year, the business posted $2.07 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts anticipate that MarineMax will post 2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MarineMax

A number of hedge funds have recently added to or reduced their stakes in HZO. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of MarineMax by 50.4% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 84,967 shares of the specialty retailer’s stock worth $3,305,000 after buying an additional 28,467 shares in the last quarter. SWS Partners purchased a new position in MarineMax in the first quarter worth $471,000. Capstone Investment Advisors LLC lifted its holdings in MarineMax by 333.9% in the first quarter. Capstone Investment Advisors LLC now owns 24,577 shares of the specialty retailer’s stock valued at $817,000 after acquiring an additional 18,913 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of MarineMax by 3.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 17,628 shares of the specialty retailer’s stock worth $586,000 after purchasing an additional 536 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of MarineMax by 8.0% during the 1st quarter. Empowered Funds LLC now owns 89,275 shares of the specialty retailer’s stock worth $2,969,000 after purchasing an additional 6,650 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.