Share Buyback Plan Approved by MarineMax (NYSE:HZO) Board of Directors

MarineMax (NYSE:HZO) announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 4th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization allows the specialty retailer to purchase up to 15.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HZO shares. National Bank Financial set a $35.00 target price on MarineMax in a research report on Friday, January 30th. Wall Street Zen upgraded shares of MarineMax from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Loop Capital started coverage on shares of MarineMax in a research report on Monday, December 22nd. They set a “buy” rating and a $29.00 price objective for the company. Zacks Research raised shares of MarineMax from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Benchmark restated a “buy” rating on shares of MarineMax in a research report on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.80.

MarineMax Stock Down 4.5%

NYSE:HZO opened at $28.39 on Friday. MarineMax has a one year low of $16.85 and a one year high of $32.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.19 and a quick ratio of 0.29. The company has a market cap of $625.43 million, a PE ratio of -10.59 and a beta of 1.66. The firm’s 50 day simple moving average is $28.02 and its 200 day simple moving average is $26.18.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.09). MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. The business had revenue of $505.18 million during the quarter, compared to analyst estimates of $481.67 million. During the same quarter last year, the company posted $0.17 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that MarineMax will post 2.41 earnings per share for the current year.

MarineMax Company Profile

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.