MarineMax, Inc. (NYSE:HZO) Receives $41.83 Consensus Target Price from Brokerages

MarineMax, Inc. (NYSE:HZO) has been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have covered the stock in the last year is $41.83.

A number of brokerages have weighed in on HZO. B. Riley cut their target price on shares of MarineMax from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Citigroup upgraded shares of MarineMax from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $44.00 in a research note on Monday, September 9th. DA Davidson raised their price target on MarineMax from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Benchmark initiated coverage on MarineMax in a research note on Tuesday, October 15th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Truist Financial increased their price objective on MarineMax from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

Institutional Investors Weigh In On MarineMax

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board purchased a new stake in MarineMax in the second quarter valued at approximately $52,000. Bfsg LLC raised its position in shares of MarineMax by 19.1% during the 3rd quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock valued at $150,000 after buying an additional 681 shares in the last quarter. James Investment Research Inc. bought a new stake in shares of MarineMax during the 3rd quarter worth $203,000. Price T Rowe Associates Inc. MD grew its position in MarineMax by 17.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,158 shares of the specialty retailer’s stock worth $205,000 after acquiring an additional 924 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake 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 acquiring an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

MarineMax Trading Down 0.5 %

NYSE:HZO opened at $28.97 on Tuesday. MarineMax has a 12 month low of $22.51 and a 12 month high of $39.85. The company has a current ratio of 1.19, a quick ratio of 0.36 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $31.96 and its 200 day moving average is $31.09. The stock has a market capitalization of $646.61 million, a PE ratio of 17.56 and a beta of 1.85.

MarineMax (NYSE:HZO) last issued its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. The firm had revenue of $563.10 million for the quarter, compared to analyst estimates of $576.49 million. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The business’s revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. Sell-side analysts expect that MarineMax will post 2.89 earnings per share for the current year.

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.