Zacks Investment Research upgraded shares of MarineMax (NYSE:HZO) from a hold rating to a buy rating in a report issued on Wednesday. They currently have $21.00 price objective on the specialty retailer’s stock.
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 reports. CL King began coverage on shares of MarineMax in a research note on Monday, November 13th. They set a neutral rating for the company. B. Riley reaffirmed a buy rating and set a $19.75 price objective on shares of MarineMax in a research note on Wednesday, September 20th. Craig Hallum set a $21.00 price objective on shares of MarineMax and gave the company a buy rating in a research note on Tuesday, October 31st. Citigroup upped their price objective on shares of MarineMax from $18.00 to $20.00 and gave the company a buy rating in a research note on Monday, October 2nd. Finally, Forward View downgraded shares of MarineMax from a buy rating to a hold rating in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $21.57.
MarineMax (NYSE:HZO) last posted its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.11. The business had revenue of $250.62 million during the quarter, compared to the consensus estimate of $231.96 million. MarineMax had a net margin of 2.24% and a return on equity of 7.82%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. equities research analysts forecast that MarineMax will post 1.17 EPS for the current year.
In related news, Chairman William H. Mcgill, Jr. sold 35,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $22.03, for a total value of $771,050.00. Following the completion of the transaction, the chairman now directly owns 262,142 shares of the company’s stock, valued at $5,774,988.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William H. Mcgill, Jr. sold 5,400 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $22.00, for a total transaction of $118,800.00. Following the completion of the transaction, the chief executive officer now directly owns 262,142 shares of the company’s stock, valued at $5,767,124. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,900 shares of company stock valued at $2,083,440. 5.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in HZO. Impala Asset Management LLC grew its holdings in MarineMax by 23.1% in the third quarter. Impala Asset Management LLC now owns 2,209,749 shares of the specialty retailer’s stock worth $36,571,000 after purchasing an additional 413,990 shares during the period. American Century Companies Inc. grew its holdings in MarineMax by 51.7% in the third quarter. American Century Companies Inc. now owns 1,208,999 shares of the specialty retailer’s stock worth $20,009,000 after purchasing an additional 412,038 shares during the period. Kennedy Capital Management Inc. grew its holdings in MarineMax by 855.1% in the second quarter. Kennedy Capital Management Inc. now owns 331,000 shares of the specialty retailer’s stock worth $6,471,000 after purchasing an additional 296,343 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in MarineMax in the third quarter worth about $4,065,000. Finally, Strs Ohio purchased a new stake in MarineMax in the third quarter worth about $3,641,000. Institutional investors and hedge funds own 88.43% of the company’s stock.
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MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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