MarineMax Inc. (HZO) Downgraded by Zacks Investment Research to Hold
MarineMax Inc. (NYSE:HZO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “MarineMax, Inc. is a recreational boat dealer in the United States. Through retail locations, the company sells new and used recreational boats and fishing boats with a focus on premium brands in each segment. “
HZO has been the subject of several other reports. Forward View upgraded MarineMax from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. B. Riley reaffirmed a “buy” rating and set a $22.50 price target on shares of MarineMax in a research report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. MarineMax presently has an average rating of “Buy” and an average target price of $24.50.
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Shares of MarineMax (NYSE:HZO) traded up 0.72% on Tuesday, hitting $20.85. The company had a trading volume of 65,000 shares. The stock has a market capitalization of $504.22 million, a PE ratio of 10.30 and a beta of 1.32. The firm’s 50 day moving average price is $20.28 and its 200-day moving average price is $18.74. MarineMax has a 52 week low of $13.56 and a 52 week high of $22.03.
MarineMax (NYSE:HZO) last issued its earnings results on Tuesday, July 26th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.12. The company earned $345.60 million during the quarter, compared to analysts’ expectations of $268.34 million. MarineMax had a return on equity of 7.88% and a net margin of 5.55%. MarineMax’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. Analysts forecast that MarineMax will post $0.90 earnings per share for the current fiscal year.
In other news, VP Michael H. Mclamb sold 10,000 shares of the stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $21.10, for a total value of $211,000.00. Following the completion of the transaction, the vice president now owns 138,648 shares of the company’s stock, valued at approximately $2,925,472.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony E. Jr. Cassella sold 7,499 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $21.50, for a total value of $161,228.50. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HZO. Eagle Asset Management Inc. raised its position in shares of MarineMax by 125.8% in the second quarter. Eagle Asset Management Inc. now owns 2,134,603 shares of the company’s stock valued at $36,224,000 after buying an additional 1,189,194 shares in the last quarter. Impala Asset Management LLC raised its position in shares of MarineMax by 52.2% in the second quarter. Impala Asset Management LLC now owns 1,505,715 shares of the company’s stock valued at $25,552,000 after buying an additional 516,572 shares in the last quarter. SG Capital Management LLC raised its position in shares of MarineMax by 1,238.0% in the second quarter. SG Capital Management LLC now owns 485,307 shares of the company’s stock valued at $8,236,000 after buying an additional 449,035 shares in the last quarter. Redwood Investments LLC purchased a new position in shares of MarineMax during the second quarter valued at about $3,247,000. Finally, Cortina Asset Management LLC raised its position in shares of MarineMax by 180.5% in the second quarter. Cortina Asset Management LLC now owns 293,019 shares of the company’s stock valued at $4,973,000 after buying an additional 188,547 shares in the last quarter.
MarineMax, Inc is a recreational boat dealer in the United States. The Company engages in the retail sale, brokerage, and service of used boats, motors, trailers, marine parts and accessories and offers slip and storage accommodations in certain locations. It offers related boat financing, insurance and extended service contracts.
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