MarineMax, Inc. (NYSE:HZO) had its target price raised by Citigroup Inc. from $18.00 to $20.00 in a report issued on Monday morning. The brokerage currently has a buy rating on the specialty retailer’s stock.
Several other equities research analysts have also recently issued reports on HZO. TheStreet cut shares of MarineMax from a b rating to a c+ rating in a research report on Wednesday, July 26th. Ifs Securities reiterated a strong-buy rating and set a $20.00 price objective on shares of MarineMax in a research report on Thursday, August 24th. BidaskClub cut shares of MarineMax from a hold rating to a sell rating in a research report on Tuesday, July 25th. Finally, B. Riley reiterated a buy rating and set a $19.75 price objective on shares of MarineMax in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. MarineMax has a consensus rating of Buy and an average price target of $21.79.
MarineMax (NYSE HZO) opened at 17.00 on Monday. MarineMax has a one year low of $13.80 and a one year high of $23.65. The stock has a 50 day moving average of $15.92 and a 200-day moving average of $18.18. The company has a market cap of $412.69 million, a price-to-earnings ratio of 17.00 and a beta of 0.97.
MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.11). MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The firm had revenue of $329.80 million for the quarter, compared to analysts’ expectations of $383.01 million. During the same period in the prior year, the firm earned $0.57 EPS. MarineMax’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, equities analysts predict that MarineMax will post $0.92 EPS for the current fiscal year.
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MarineMax announced that its board has initiated a stock repurchase plan on Wednesday, August 2nd that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Dean S. Woodman sold 2,500 shares of MarineMax stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $16.00, for a total transaction of $40,000.00. Following the sale, the director now owns 14,693 shares in the company, valued at $235,088. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dean S. Woodman sold 3,000 shares of MarineMax stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the sale, the director now owns 15,193 shares in the company, valued at approximately $227,895. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,000 shares of company stock worth $125,000. Company insiders own 5.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in HZO. Thomson Horstmann & Bryant Inc. bought a new stake in shares of MarineMax during the second quarter valued at approximately $6,165,000. Kennedy Capital Management Inc. increased its position 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 last quarter. Impala Asset Management LLC increased its position in MarineMax by 18.6% in the second quarter. Impala Asset Management LLC now owns 1,795,759 shares of the specialty retailer’s stock worth $35,107,000 after purchasing an additional 282,017 shares during the last quarter. Mitra Capital LLC bought a new stake in MarineMax in the second quarter worth $3,016,000. Finally, Eagle Asset Management Inc. increased its position in MarineMax by 4.6% in the second quarter. Eagle Asset Management Inc. now owns 3,330,527 shares of the specialty retailer’s stock worth $65,111,000 after purchasing an additional 146,127 shares during the last quarter. Hedge funds and other institutional investors own 90.57% of the company’s stock.
MarineMax Company Profile
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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