MarineMax (NYSE:HZO) Price Target Lowered to $35.00 at Truist Financial

MarineMax (NYSE:HZO) had its price target reduced by Truist Financial from $40.00 to $35.00 in a report issued on Friday, Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer’s stock.

Other analysts also recently issued research reports about the stock. DA Davidson reissued a buy rating and issued a $34.00 price objective on shares of MarineMax in a research note on Friday, March 15th. StockNews.com downgraded shares of MarineMax from a hold rating to a sell rating in a research note on Saturday, January 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MarineMax presently has an average rating of Moderate Buy and a consensus target price of $35.40.

MarineMax Trading Down 0.9 %

HZO opened at $25.38 on Friday. The firm has a market cap of $565.97 million, a P/E ratio of 9.20 and a beta of 1.69. MarineMax has a 12 month low of $22.51 and a 12 month high of $42.88. The company has a current ratio of 1.24, a quick ratio of 0.35 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average of $30.20 and a 200 day moving average of $31.44.

MarineMax (NYSE:HZO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.18 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.55). The company had revenue of $582.90 million during the quarter, compared to analysts’ expectations of $590.19 million. MarineMax had a return on equity of 7.66% and a net margin of 2.56%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 EPS. As a group, research analysts forecast that MarineMax will post 3.09 EPS for the current year.

Insider Activity

In other news, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction of $124,480.00. Following the completion of the sale, the director now owns 20,544 shares of the company’s stock, valued at $639,329.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Charles A. Cashman sold 7,500 shares of MarineMax stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total transaction of $223,200.00. Following the completion of the sale, the executive vice president now owns 63,981 shares of the company’s stock, valued at $1,904,074.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction of $124,480.00. Following the sale, the director now directly owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Institutional Trading of MarineMax

Institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp increased its holdings in MarineMax by 442.3% during the third quarter. Fifth Third Bancorp now owns 770 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 628 shares during the period. Spire Wealth Management increased its holdings in MarineMax by 58.3% during the third quarter. Spire Wealth Management now owns 1,496 shares of the specialty retailer’s stock valued at $49,000 after buying an additional 551 shares during the period. Bfsg LLC purchased a new position in MarineMax during the fourth quarter valued at approximately $133,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MarineMax by 25.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 696 shares during the period. Finally, Arizona State Retirement System purchased a new position in MarineMax during the fourth quarter valued at approximately $214,000. Institutional investors own 92.85% of the company’s stock.

MarineMax Company Profile

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.