MarineMax (NYSE:HZO) Trading Down 2.9% After Analyst Downgrade

MarineMax, Inc. (NYSE:HZO) was down 2.9% during mid-day trading on Thursday after Raymond James lowered their price target on the stock from $67.00 to $63.00. Raymond James currently has an outperform rating on the stock. MarineMax traded as low as $46.18 and last traded at $46.22. Approximately 256 shares traded hands during trading, a decline of 100% from the average daily volume of 477,591 shares. The stock had previously closed at $47.58.

A number of other research firms have also commented on HZO. B. Riley reaffirmed a “buy” rating and set a $65.00 price target (up from $57.00) on shares of MarineMax in a research report on Friday, July 23rd. Zacks Investment Research lowered shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.17.

Institutional investors have recently made changes to their positions in the business. FMR LLC grew its stake in MarineMax by 129.0% during the second quarter. FMR LLC now owns 561 shares of the specialty retailer’s stock worth $28,000 after buying an additional 316 shares in the last quarter. Denali Advisors LLC acquired a new stake in MarineMax during the third quarter worth about $39,000. Advisory Services Network LLC acquired a new stake in MarineMax during the second quarter worth about $63,000. Federated Hermes Inc. grew its stake in MarineMax by 1,534.5% during the first quarter. Federated Hermes Inc. now owns 1,373 shares of the specialty retailer’s stock worth $67,000 after buying an additional 1,289 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in MarineMax by 6,515.0% during the first quarter. Captrust Financial Advisors now owns 2,646 shares of the specialty retailer’s stock worth $131,000 after buying an additional 2,606 shares in the last quarter.

The business’s 50 day simple moving average is $49.66 and its 200-day simple moving average is $50.86. The company has a quick ratio of 1.26, a current ratio of 2.20 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 7.38 and a beta of 1.75.

MarineMax (NYSE:HZO) last posted its quarterly earnings results on Thursday, July 22nd. The specialty retailer reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.49. MarineMax had a net margin of 7.39% and a return on equity of 29.34%. The company had revenue of $666.33 million for the quarter, compared to the consensus estimate of $615.99 million. During the same period last year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, analysts expect that MarineMax, Inc. will post 6.54 earnings per share for the current year.

About MarineMax (NYSE:HZO)

MarineMax, Inc engages in the provision of boating-related activities. The firm sells used and new sport boats, sport cruisers, sport yachts and fishing boats through retail stores. It also provides maintenance, repair, slip and storage services. The company was founded in January 1998 and is headquartered in Clearwater, FL.

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