MarineMax Inc. (HZO) Rating Lowered to Hold at Zacks Investment Research
MarineMax Inc. (NYSE:HZO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued 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 topic of several other reports. Forward View raised MarineMax from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. B. Riley reaffirmed a “buy” rating and issued a $22.50 target price on shares of MarineMax in a research report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $24.50.
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Shares of MarineMax (NYSE:HZO) traded up 0.72% during trading on Tuesday, hitting $20.85. The company’s stock had a trading volume of 65,000 shares. The firm’s 50 day moving average is $20.28 and its 200-day moving average is $18.74. The company has a market capitalization of $504.22 million, a P/E ratio of 10.30 and a beta of 1.32. MarineMax has a 1-year low of $13.56 and a 1-year 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, topping the consensus estimate of $0.45 by $0.12. MarineMax had a return on equity of 7.88% and a net margin of 5.55%. The company had revenue of $345.60 million for the quarter, compared to analyst estimates of $268.34 million. During the same period in the prior year, the firm posted $0.52 EPS. The business’s revenue was up 49.1% compared to the same quarter last year. Analysts forecast that MarineMax will post $0.90 EPS for the current fiscal year.
In other news, Director Hilliard M. Eure sold 5,000 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $20.13, for a total transaction of $100,650.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at approximately $130,845. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael H. Mclamb sold 10,000 shares of the stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $21.10, for a total value of $211,000.00. Following the transaction, the vice president now directly owns 138,648 shares in the company, valued at approximately $2,925,472.80. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Asset Management Inc. raised its position in shares of MarineMax by 18.2% in the third quarter. Eagle Asset Management Inc. now owns 2,523,072 shares of the company’s stock worth $52,858,000 after buying an additional 388,469 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of MarineMax by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,181,457 shares of the company’s stock worth $37,019,000 after buying an additional 76,509 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of MarineMax by 2.3% in the second quarter. BlackRock Fund Advisors now owns 1,621,914 shares of the company’s stock worth $27,524,000 after buying an additional 35,705 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 worth $25,552,000 after buying an additional 516,572 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of MarineMax by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,127,211 shares of the company’s stock worth $19,129,000 after buying an additional 45,147 shares in the last quarter.
MarineMax Company Profile
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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