MarineMax (NYSE:HZO) Trading Down 4.2% – Here’s What Happened

MarineMax, Inc. (NYSE:HZO) shares fell 4.2% during trading on Monday . The company traded as low as $31.76 and last traded at $31.78. 19,095 shares changed hands during trading, a decline of 94% from the average session volume of 313,327 shares. The stock had previously closed at $33.17.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HZO shares. Truist Financial raised their price target on MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Stifel Nicolaus lifted their target price on shares of MarineMax from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Citigroup upgraded MarineMax from a “neutral” rating to a “buy” rating and increased their target price for the stock from $40.00 to $44.00 in a research report on Monday, September 9th. Finally, DA Davidson lifted their price target on MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.20.

MarineMax Trading Down 3.6 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.36 and a current ratio of 1.20. The firm has a market capitalization of $648.74 million, a price-to-earnings ratio of 10.54 and a beta of 1.82. The business has a fifty day moving average price of $32.07 and a 200 day moving average price of $31.05.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $1.51 EPS for the quarter, topping the consensus estimate of $1.35 by $0.16. The company had revenue of $757.72 million during the quarter, compared to analyst estimates of $720.30 million. MarineMax had a return on equity of 6.26% and a net margin of 2.00%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.07 earnings per share. As a group, equities analysts forecast that MarineMax, Inc. will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board acquired a new stake in shares of MarineMax in the second quarter worth $52,000. Price T Rowe Associates Inc. MD increased its holdings in MarineMax by 17.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,158 shares of the specialty retailer’s stock valued at $205,000 after purchasing an additional 924 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in MarineMax by 5.2% in the second quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer’s stock valued at $267,000 after purchasing an additional 408 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of MarineMax by 45.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,897 shares of the specialty retailer’s stock worth $296,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in shares of MarineMax by 14.1% in the first quarter. Illinois Municipal Retirement Fund now owns 12,589 shares of the specialty retailer’s stock worth $419,000 after buying an additional 1,551 shares during the period. 92.85% of the stock is owned by institutional investors and hedge funds.

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.