MarineMax (NYSE:HZO) Shares Gap Up – Here’s Why

Shares of MarineMax, Inc. (NYSE:HZO) gapped up before the market opened on Friday . The stock had previously closed at $32.52, but opened at $33.48. MarineMax shares last traded at $33.50, with a volume of 13,758 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Benchmark initiated coverage on shares of MarineMax in a research note on Tuesday, October 15th. They set a “buy” rating and a $40.00 price objective on the stock. StockNews.com lowered MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Finally, Citigroup upgraded MarineMax from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $44.00 in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.83.

MarineMax Trading Up 7.5 %

The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The business’s fifty day moving average is $31.52 and its two-hundred day moving average is $31.68. The firm has a market cap of $789.97 million, a price-to-earnings ratio of 21.00 and a beta of 1.85.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The company had revenue of $563.10 million during the quarter, compared to analysts’ expectations of $576.49 million. During the same period last year, the firm earned $0.69 EPS. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities analysts anticipate that MarineMax, Inc. will post 2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MarineMax

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in MarineMax during the 3rd quarter worth $236,000. Systematic Financial Management LP bought a new position in shares of MarineMax in the 3rd quarter worth $183,000. RBF Capital LLC grew its stake in shares of MarineMax by 55.9% during the third quarter. RBF Capital LLC now owns 93,544 shares of the specialty retailer’s stock worth $3,299,000 after purchasing an additional 33,544 shares during the period. Point72 Asset Management L.P. bought a new stake in MarineMax in the third quarter valued at about $143,000. Finally, Portolan Capital Management LLC acquired a new position in MarineMax in the third quarter valued at about $11,271,000. 92.85% of the stock is owned by institutional investors.

About MarineMax

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.