MarineMax (HZO) Lifted to “Buy” at Zacks Investment Research

MarineMax (NYSE:HZO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $23.00 target price on the specialty retailer’s stock. Zacks Investment Research‘s price objective would indicate a potential downside of 3.36% from the company’s current price.

According to Zacks, “MarineMax, Inc. is the nation’s largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Galeon, Grady-White, Harris, Crest, Scout, Sailfish, Sea Pro, Scarab Jet Boats, Aquila, and Nautique, MarineMax sells new and used recreational boats and related marine products and services as well as provides yacht brokerage and charter services. MarineMax currently has 62 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands. “

Several other research analysts have also weighed in on HZO. B. Riley restated a “buy” rating and set a $22.00 target price on shares of MarineMax in a research report on Monday, January 22nd. TheStreet lowered shares of MarineMax from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Citigroup upped their target price on shares of MarineMax from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. Craig Hallum set a $21.00 target price on shares of MarineMax and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Forward View lowered shares of MarineMax from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $22.00.

MarineMax (HZO) remained flat at $$23.80 during midday trading on Wednesday. The stock had a trading volume of 516,508 shares, compared to its average volume of 353,502. The stock has a market capitalization of $630.71, a PE ratio of 23.11, a PEG ratio of 0.57 and a beta of 1.05. MarineMax has a 1 year low of $13.80 and a 1 year high of $24.30.

MarineMax (NYSE:HZO) last issued its earnings results on Wednesday, January 24th. The specialty retailer reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.24. MarineMax had a net margin of 2.36% and a return on equity of 8.63%. The company had revenue of $236.92 million for the quarter, compared to analyst estimates of $231.75 million. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. equities research analysts predict that MarineMax will post 1.39 earnings per share for the current fiscal year.

In other news, CEO William H. Mcgill, Jr. sold 5,400 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $22.00, for a total value of $118,800.00. Following the sale, the chief executive officer now directly owns 262,142 shares in the company, valued at $5,767,124. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hilliard M. Eure sold 2,500 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $21.00, for a total transaction of $52,500.00. The disclosure for this sale can be found here. Insiders have sold 151,900 shares of company stock worth $3,384,240 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Impala Asset Management LLC grew its position in shares of MarineMax by 23.1% in the third quarter. Impala Asset Management LLC now owns 2,209,749 shares of the specialty retailer’s stock valued at $36,571,000 after purchasing an additional 413,990 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of MarineMax by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,206,573 shares of the specialty retailer’s stock valued at $43,138,000 after purchasing an additional 9,452 shares during the last quarter. Vanguard Group Inc. grew its position in shares of MarineMax by 4.1% in the second quarter. Vanguard Group Inc. now owns 1,349,327 shares of the specialty retailer’s stock valued at $26,380,000 after purchasing an additional 53,443 shares during the last quarter. American Century Companies Inc. grew its position in shares of MarineMax by 51.7% in the third quarter. American Century Companies Inc. now owns 1,208,999 shares of the specialty retailer’s stock valued at $20,009,000 after purchasing an additional 412,038 shares during the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of MarineMax by 0.6% in the third quarter. Macquarie Group Ltd. now owns 1,185,217 shares of the specialty retailer’s stock valued at $19,615,000 after purchasing an additional 7,492 shares during the last quarter. Institutional investors and hedge funds own 88.85% of the company’s stock.

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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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