MarineMax (NYSE:HZO) Downgraded to “Sell” at Zacks Investment Research

MarineMax (NYSE:HZO) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report released on Thursday, Zacks.com reports.

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. “

HZO has been the subject of several other research reports. ValuEngine raised MarineMax from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. B. Riley dropped their price objective on MarineMax from $26.50 to $13.50 and set a “buy” rating for the company in a research note on Monday. SunTrust Banks reissued a “buy” rating and set a $26.00 price objective on shares of MarineMax in a research note on Friday, January 24th. Raymond James raised MarineMax from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research note on Tuesday, February 18th. Finally, TheStreet raised MarineMax from a “c+” rating to a “b” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. MarineMax currently has a consensus rating of “Hold” and a consensus target price of $21.08.

Shares of NYSE HZO opened at $10.11 on Thursday. The stock has a market cap of $209.70 million, a PE ratio of 5.65 and a beta of 1.16. MarineMax has a fifty-two week low of $7.24 and a fifty-two week high of $23.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.20 and a current ratio of 1.39. The stock has a fifty day moving average of $15.83 and a 200-day moving average of $16.40.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, January 23rd. The specialty retailer reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.34. The company had revenue of $304.20 million during the quarter, compared to analysts’ expectations of $260.33 million. MarineMax had a return on equity of 11.22% and a net margin of 3.09%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. On average, sell-side analysts predict that MarineMax will post 1.91 EPS for the current year.

In other MarineMax news, EVP Charles A. Cashman sold 2,656 shares of MarineMax stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $21.75, for a total transaction of $57,768.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO W Brett Mcgill sold 5,000 shares of MarineMax stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $21.64, for a total value of $108,200.00. Following the sale, the chief executive officer now directly owns 51,308 shares of the company’s stock, valued at approximately $1,110,305.12. The disclosure for this sale can be found here. Insiders have sold 10,156 shares of company stock valued at $216,768 in the last three months. 4.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of HZO. California Public Employees Retirement System lifted its stake in MarineMax by 17.7% during the third quarter. California Public Employees Retirement System now owns 40,306 shares of the specialty retailer’s stock worth $624,000 after purchasing an additional 6,059 shares during the last quarter. Barclays PLC lifted its stake in MarineMax by 23.1% during the third quarter. Barclays PLC now owns 68,144 shares of the specialty retailer’s stock worth $1,056,000 after purchasing an additional 12,774 shares during the last quarter. 6 Meridian lifted its stake in MarineMax by 14.0% during the fourth quarter. 6 Meridian now owns 18,017 shares of the specialty retailer’s stock worth $301,000 after purchasing an additional 2,219 shares during the last quarter. Advisors Preferred LLC bought a new stake in MarineMax during the fourth quarter worth about $33,000. Finally, Russell Investments Group Ltd. bought a new stake in MarineMax during the fourth quarter worth about $301,000. 83.16% of the stock is owned by hedge funds and other institutional investors.

MarineMax Company Profile

MarineMax, Inc operates as a recreational boat and yacht retailer in the United States. The company sells new and used recreational boats, including pleasure boats, such as sport boats, sport cruisers, sport yachts, and other yachts; fishing boats; motor and convertible yachts; pontoon boats; fishing boats; ski boats; and jet boats.

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