MarineMax (NYSE:HZO) Given New $35.00 Price Target at DA Davidson

MarineMax (NYSE:HZO) had its target price trimmed by DA Davidson from $38.00 to $35.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the specialty retailer’s stock.

HZO has been the subject of several other reports. StockNews.com downgraded shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Benchmark began coverage on MarineMax in a research note on Tuesday, October 15th. They set a “buy” rating and a $40.00 target price for the company. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat, MarineMax currently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

MarineMax Trading Down 2.8 %

Shares of HZO opened at $27.79 on Wednesday. MarineMax has a 12 month low of $22.51 and a 12 month high of $38.20. The stock’s 50-day moving average is $29.62 and its two-hundred day moving average is $31.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.34. The stock has a market cap of $630.53 million, a PE ratio of 16.84 and a beta of 1.89.

MarineMax (NYSE:HZO) last released its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 EPS for the quarter, topping 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%. MarineMax’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. Equities analysts forecast that MarineMax will post 2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HZO. The Manufacturers Life Insurance Company raised its stake in shares of MarineMax by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer’s stock valued at $267,000 after purchasing an additional 408 shares in the last quarter. Bfsg LLC increased its stake in MarineMax by 19.1% during the third quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock valued at $150,000 after purchasing an additional 681 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of 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 purchasing an additional 905 shares during the period. Empowered Funds LLC boosted its holdings in shares of MarineMax by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 21,473 shares of the specialty retailer’s stock valued at $757,000 after buying an additional 1,072 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of MarineMax by 7.0% during the 3rd quarter. Janus Henderson Group PLC now owns 20,066 shares of the specialty retailer’s stock valued at $707,000 after buying an additional 1,319 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors.

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.