MarineMax, Inc. (NYSE:HZO) – Equities researchers at Craig Hallum reduced their Q1 2018 EPS estimates for shares of MarineMax in a research report issued on Friday. Craig Hallum analyst S. Dyer now anticipates that the specialty retailer will earn $0.05 per share for the quarter, down from their prior forecast of $0.08. Craig Hallum also issued estimates for MarineMax’s Q2 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.22 EPS and FY2018 earnings at $1.11 EPS.

A number of other equities research analysts have also recently issued reports on HZO. B. Riley reissued a “buy” rating and issued a $19.75 price target on shares of MarineMax in a research note on Wednesday, September 20th. BidaskClub cut shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Ifs Securities reissued a “strong-buy” rating and issued a $20.00 price target on shares of MarineMax in a research note on Thursday, August 24th. TheStreet cut shares of MarineMax from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Finally, Zacks Investment Research cut shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $22.82.

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MarineMax (NYSE:HZO) opened at 16.20 on Monday. The stock has a market cap of $393.27 million, a P/E ratio of 16.20 and a beta of 1.00. MarineMax has a 12-month low of $13.80 and a 12-month high of $23.65. The stock has a 50 day moving average of $15.60 and a 200 day moving average of $18.62.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, July 20th. The specialty retailer reported $0.57 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.11). MarineMax had a return on equity of 7.53% and a net margin of 2.45%. The company had revenue of $329.80 million during the quarter, compared to analysts’ expectations of $383.01 million. During the same period last year, the firm posted $0.57 EPS. MarineMax’s quarterly revenue was down 4.6% compared to the same quarter last year.

MarineMax announced that its Board of Directors has initiated a stock repurchase program on Wednesday, August 2nd that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other MarineMax news, Director Dean S. Woodman sold 3,000 shares of MarineMax stock in a transaction on Monday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the sale, the director now owns 15,193 shares of the company’s stock, valued at approximately $227,895. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dean S. Woodman sold 2,500 shares of MarineMax stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $16.00, for a total transaction of $40,000.00. Following the sale, the director now directly owns 14,693 shares in the company, valued at approximately $235,088. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,000 shares of company stock worth $125,000. 5.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bogle Investment Management L P DE acquired a new stake in MarineMax during the 1st quarter worth $212,000. Coe Capital Management LLC boosted its stake in MarineMax by 11.3% during the 1st quarter. Coe Capital Management LLC now owns 32,595 shares of the specialty retailer’s stock worth $706,000 after purchasing an additional 3,310 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in MarineMax by 4.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 3,330,527 shares of the specialty retailer’s stock worth $65,111,000 after purchasing an additional 146,127 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in MarineMax by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 337,535 shares of the specialty retailer’s stock worth $7,308,000 after purchasing an additional 11,226 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in MarineMax by 11.0% during the 1st quarter. OppenheimerFunds Inc. now owns 32,966 shares of the specialty retailer’s stock worth $713,000 after purchasing an additional 3,265 shares during the last quarter. 90.57% of the stock is currently owned by institutional investors.

About MarineMax

MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.

Earnings History and Estimates for MarineMax (NYSE:HZO)

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