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

MarineMax (NYSE:HZO) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Several other brokerages have also recently issued reports on HZO. B. Riley decreased their target price on shares of MarineMax from $48.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Truist Financial boosted their price objective on MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, July 26th. DA Davidson raised their price target on MarineMax from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Stifel Nicolaus lifted their price objective on shares of MarineMax from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.75.

MarineMax Price Performance

NYSE HZO traded up $2.18 during trading hours on Friday, reaching $32.20. 215,172 shares of the stock traded hands, compared to its average volume of 329,640. The stock has a 50 day simple moving average of $32.47 and a two-hundred day simple moving average of $30.75. The company has a market cap of $718.09 million, a price-to-earnings ratio of 11.67 and a beta of 1.84. MarineMax has a 1 year low of $22.51 and a 1 year high of $39.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.20 and a quick ratio of 0.36.

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, topping the consensus estimate of $1.35 by $0.16. The firm had revenue of $757.72 million for the quarter, compared to analysts’ expectations of $720.30 million. MarineMax had a net margin of 2.00% and a return on equity of 6.26%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $2.07 earnings per share. On average, analysts predict that MarineMax will post 2.33 EPS for the current fiscal year.

Institutional Trading of MarineMax

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in MarineMax by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,468,991 shares of the specialty retailer’s stock worth $48,859,000 after acquiring an additional 29,473 shares in the last quarter. Dimensional Fund Advisors LP increased its position in MarineMax by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock worth $46,767,000 after purchasing an additional 110,601 shares in the last quarter. Levin Capital Strategies L.P. lifted its holdings in shares of MarineMax by 140.6% during the 1st quarter. Levin Capital Strategies L.P. now owns 1,045,514 shares of the specialty retailer’s stock worth $34,774,000 after acquiring an additional 610,994 shares during the period. Broad Bay Capital Management LP lifted its stake in shares of MarineMax by 34.1% during the fourth quarter. Broad Bay Capital Management LP now owns 704,034 shares of the specialty retailer’s stock worth $27,387,000 after purchasing an additional 179,034 shares in the last quarter. Finally, Private Management Group Inc. lifted its stake in shares of MarineMax by 6.8% in the second quarter. Private Management Group Inc. now owns 478,990 shares of the specialty retailer’s stock worth $15,505,000 after acquiring an additional 30,677 shares in the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

MarineMax Company Profile

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.