MarineMax, Inc. (HZO) PT Set at $21.00 by Craig Hallum
MarineMax, Inc. (NYSE:HZO) has been given a $21.00 price objective by equities researchers at Craig Hallum in a research note issued on Tuesday. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Craig Hallum’s price target suggests a potential upside of 38.16% from the stock’s current price.
A number of other equities research analysts have also weighed in on HZO. B. Riley restated a “buy” rating and set a $19.75 price objective on shares of MarineMax in a research note on Thursday, October 26th. Forward View lowered MarineMax from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup Inc. raised their price objective on MarineMax from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. BidaskClub lowered MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Ifs Securities restated a “strong-buy” rating and set a $20.00 price objective on shares of MarineMax in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $21.68.
Shares of MarineMax (HZO) traded up 23.03% during trading on Tuesday, hitting $18.70. The stock had a trading volume of 1,272,098 shares. MarineMax has a one year low of $13.80 and a one year high of $23.65. The company has a market cap of $453.96 million, a P/E ratio of 18.70 and a beta of 0.97. The stock’s 50-day moving average price is $16.36 and its 200-day moving average price is $17.53.
MarineMax (NYSE:HZO) last announced its earnings results on Monday, October 30th. The specialty retailer reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $250.62 million for the quarter, compared to the consensus estimate of $231.96 million. MarineMax had a return on equity of 7.53% and a net margin of 2.45%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. On average, equities research analysts forecast that MarineMax will post $0.89 EPS for the current fiscal year.
MarineMax declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 2nd that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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In related news, Director Dean S. Woodman sold 2,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 14,693 shares in the company, valued at approximately $235,088. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dean S. Woodman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the transaction, the director now owns 15,193 shares of the company’s stock, valued at approximately $227,895. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,500 shares of company stock valued at $167,500. Insiders own 5.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Foundry Partners LLC raised its stake in MarineMax by 5.0% during the 3rd quarter. Foundry Partners LLC now owns 287,990 shares of the specialty retailer’s stock valued at $4,766,000 after acquiring an additional 13,650 shares in the last quarter. Victory Capital Management Inc. raised its stake in MarineMax by 45.7% during the 3rd quarter. Victory Capital Management Inc. now owns 108,981 shares of the specialty retailer’s stock valued at $1,804,000 after acquiring an additional 34,186 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in MarineMax during the 3rd quarter valued at $232,000. Thomson Horstmann & Bryant Inc. raised its stake in MarineMax by 24.5% during the 3rd quarter. Thomson Horstmann & Bryant Inc. now owns 392,657 shares of the specialty retailer’s stock valued at $6,498,000 after acquiring an additional 77,293 shares in the last quarter. Finally, CAPROCK Group Inc. bought a new stake in MarineMax during the 3rd quarter valued at $213,000. 90.57% of the stock is currently owned by hedge funds and other institutional investors.
MarineMax Company Profile
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.
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