MarineMax (NYSE:HZO) Earns “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of MarineMax (NYSE:HZO) in a research note released on Friday morning,Benzinga reports. The brokerage currently has a $40.00 target price on the specialty retailer’s stock.

Several other brokerages also recently weighed in on HZO. DA Davidson lowered their price objective on MarineMax from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

MarineMax Stock Down 4.8 %

Shares of NYSE HZO opened at $30.81 on Friday. 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 business has a 50-day moving average of $29.64 and a 200-day moving average of $31.23. The firm has a market capitalization of $699.08 million, a price-to-earnings ratio of 18.67 and a beta of 1.89. MarineMax has a 12 month low of $22.51 and a 12 month high of $38.20.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, January 23rd. The specialty retailer reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.31. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. Sell-side analysts expect that MarineMax will post 2.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MarineMax

A number of institutional investors have recently made changes to their positions in HZO. Portolan Capital Management LLC purchased a new stake in MarineMax during the 3rd quarter valued at $11,271,000. Algert Global LLC purchased a new stake in MarineMax during the third quarter valued at $4,949,000. Concentric Capital Strategies LP bought a new position in MarineMax in the third quarter valued at about $4,832,000. Royce & Associates LP boosted its position in MarineMax by 45.2% in the third quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer’s stock worth $13,008,000 after purchasing an additional 114,880 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of MarineMax by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock valued at $46,767,000 after purchasing an additional 110,601 shares during the period. Hedge funds and other institutional investors 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.