ValuEngine Lowers MarineMax (HZO) to Hold

ValuEngine downgraded shares of MarineMax (NYSE:HZO) from a buy rating to a hold rating in a research note issued to investors on Friday.

HZO has been the topic of a number of other reports. Wedbush cut their price target on MarineMax from $24.00 to $21.00 and set a neutral rating on the stock in a report on Friday, July 27th. CL King cut MarineMax from a buy rating to a neutral rating in a report on Wednesday, October 31st. Citigroup cut their price target on MarineMax from $28.00 to $23.00 and set a buy rating on the stock in a report on Wednesday, August 15th. Ifs Securities restated a buy rating and set a $31.00 price target on shares of MarineMax in a report on Tuesday, October 30th. Finally, Zacks Investment Research upgraded MarineMax from a hold rating to a buy rating and set a $23.00 price target on the stock in a report on Thursday, October 18th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $27.00.

Shares of HZO stock opened at $22.72 on Friday. MarineMax has a one year low of $16.40 and a one year high of $26.11. The company has a market capitalization of $617.16 million, a P/E ratio of 13.25 and a beta of 0.94.

MarineMax (NYSE:HZO) last announced its earnings results on Tuesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.22. MarineMax had a return on equity of 11.97% and a net margin of 3.34%. The business had revenue of $308.59 million for the quarter, compared to analysts’ expectations of $273.60 million. During the same period in the prior year, the business posted $0.22 earnings per share. The firm’s revenue was up 23.1% on a year-over-year basis. On average, equities analysts predict that MarineMax will post 1.92 EPS for the current fiscal year.

In other MarineMax news, insider William H. Mcgill, Jr. sold 8,525 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $26.06, for a total transaction of $222,161.50. Following the transaction, the insider now directly owns 269,515 shares in the company, valued at approximately $7,023,560.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dean S. Woodman sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $25.97, for a total value of $259,700.00. Following the transaction, the director now owns 23,844 shares in the company, valued at $619,228.68. The disclosure for this sale can be found here. Insiders have sold a total of 135,300 shares of company stock worth $3,324,713 over the last 90 days. Company insiders own 4.40% of the company’s stock.

Several large investors have recently modified their holdings of HZO. Pacer Advisors Inc. acquired a new position in shares of MarineMax during the third quarter worth approximately $105,000. SG Americas Securities LLC acquired a new position in shares of MarineMax during the third quarter worth approximately $128,000. Louisiana State Employees Retirement System acquired a new position in shares of MarineMax during the second quarter worth approximately $190,000. Trexquant Investment LP acquired a new position in shares of MarineMax during the second quarter worth approximately $202,000. Finally, Globeflex Capital L P acquired a new position in shares of MarineMax during the third quarter worth approximately $259,000. 92.87% of the stock is currently owned by institutional investors.

MarineMax Company Profile

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

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Analyst Recommendations for MarineMax (NYSE:HZO)

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