MarineMax (NYSE:HZO) Trading Up 5.2% – What’s Next?

MarineMax, Inc. (NYSE:HZO) shot up 5.2% during trading on Tuesday . The company traded as high as $28.86 and last traded at $28.70. 76,053 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 295,403 shares. The stock had previously closed at $27.29.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HZO shares. Citigroup upgraded MarineMax from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $44.00 in a report on Monday, September 9th. StockNews.com upgraded shares of MarineMax from a “sell” rating to a “hold” rating in a report on Thursday, December 26th. Finally, Benchmark started coverage on shares of MarineMax in a research report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.83.

MarineMax Stock Performance

The firm has a 50-day moving average of $30.51 and a 200-day moving average of $31.77. The company has a current ratio of 1.19, a quick ratio of 0.34 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $655.48 million, a price-to-earnings ratio of 17.58 and a beta of 1.87.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. The company had revenue of $563.10 million for the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. MarineMax’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. As a group, sell-side analysts predict that MarineMax, Inc. will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Canada Pension Plan Investment Board purchased a new stake in MarineMax in the 2nd quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of MarineMax during the third quarter worth about $67,000. Point72 Asset Management L.P. acquired a new position in shares of MarineMax during the 3rd quarter worth about $143,000. Bfsg LLC raised its holdings in shares of MarineMax by 19.1% during the third quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock valued at $150,000 after acquiring an additional 681 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in MarineMax during the 3rd quarter worth $183,000. Institutional investors and hedge funds own 92.85% of the company’s stock.

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.