MarineMax (NYSE:HZO) Stock Rating Lowered by StockNews.com

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

Separately, Benchmark initiated coverage on MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 target price on the stock. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Stock Performance

Shares of MarineMax stock traded down $1.03 on Wednesday, reaching $26.75. The stock had a trading volume of 230,502 shares, compared to its average volume of 213,160. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.34 and a current ratio of 1.19. The business’s 50-day moving average price is $30.32 and its two-hundred day moving average price is $31.56. The stock has a market cap of $604.42 million, a P/E ratio of 16.21 and a beta of 1.89. MarineMax has a fifty-two week low of $22.51 and a fifty-two week high of $38.20.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $563.10 million during 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 business’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. On average, sell-side analysts forecast that MarineMax will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MarineMax

Several hedge funds have recently made changes to their positions in HZO. Bank of New York Mellon Corp raised its holdings in MarineMax by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 185,880 shares of the specialty retailer’s stock valued at $6,017,000 after acquiring an additional 3,867 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of MarineMax by 60.0% during the second quarter. Victory Capital Management Inc. now owns 55,243 shares of the specialty retailer’s stock valued at $1,788,000 after purchasing an additional 20,724 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of MarineMax by 8.3% in the second 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 in the last quarter. Canada Pension Plan Investment Board bought a new position in MarineMax in the second quarter worth $52,000. Finally, Public Sector Pension Investment Board boosted its stake in MarineMax by 7.9% during the second quarter. Public Sector Pension Investment Board now owns 44,654 shares of the specialty retailer’s stock worth $1,445,000 after buying an additional 3,273 shares in the last quarter. 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.