MarineMax (NYSE:HZO) Downgraded to “Sell” Rating by StockNews.com

MarineMax (NYSE:HZO) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Separately, Benchmark started coverage on MarineMax in a report on Tuesday, October 15th. They set a “buy” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Stock Down 3.7 %

HZO opened at $26.75 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 0.34 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $30.21 and its 200 day simple moving average is $31.50. MarineMax has a 1-year low of $22.51 and a 1-year high of $38.20. The stock has a market cap of $604.42 million, a PE ratio of 16.21 and a beta of 1.89.

MarineMax (NYSE:HZO) last issued its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. The company had revenue of $563.10 million for the quarter, compared to analyst estimates of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The company’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. As a group, research analysts expect that MarineMax will post 2.33 earnings per share for the current year.

Institutional Trading of MarineMax

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oliver Luxxe Assets LLC bought a new position in shares of MarineMax during the fourth quarter worth approximately $1,316,000. JPMorgan Chase & Co. grew its position in MarineMax by 8.4% during the third quarter. JPMorgan Chase & Co. now owns 11,705 shares of the specialty retailer’s stock worth $413,000 after buying an additional 905 shares in the last quarter. XTX Topco Ltd bought a new position in MarineMax during the 3rd quarter worth $236,000. Systematic Financial Management LP acquired a new position in MarineMax in the 3rd quarter valued at $183,000. Finally, RBF Capital LLC lifted its position in shares of MarineMax by 55.9% during the 3rd quarter. RBF Capital LLC now owns 93,544 shares of the specialty retailer’s stock valued at $3,299,000 after acquiring an additional 33,544 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.