MarineMax, Inc. (NYSE:HZO)‘s stock had its “buy” rating reaffirmed by analysts at B. Riley in a note issued to investors on Thursday, October 26th. They currently have a $19.75 price objective on the specialty retailer’s stock. B. Riley’s target price would suggest a potential downside of 2.71% from the company’s previous close.
HZO has been the topic of a number of other reports. Ifs Securities reiterated a “strong-buy” rating and set a $20.00 price objective on shares of MarineMax in a research note on Thursday, August 24th. Citigroup Inc. increased their price objective on shares of MarineMax from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. BidaskClub downgraded shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, TheStreet downgraded shares of MarineMax from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $21.67.
MarineMax (HZO) traded up $0.05 during mid-day trading on Thursday, hitting $20.30. 236,100 shares of the company traded hands, compared to its average volume of 440,578. MarineMax has a fifty-two week low of $13.80 and a fifty-two week high of $23.65. The firm has a market capitalization of $481.82, a P/E ratio of 20.10, a PEG ratio of 0.58 and a beta of 0.99.
MarineMax (NYSE:HZO) last released its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.11. The business had revenue of $250.62 million for 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%. MarineMax’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 earnings per share. analysts expect that MarineMax will post 1.16 EPS for the current year.
MarineMax declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 2nd that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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In related news, VP Michael H. Mclamb sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.10, for a total value of $211,000.00. Following the completion of the transaction, the vice president now owns 21,500 shares in the company, valued at approximately $453,650. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman William H. Mcgill, Jr. sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $21.03, for a total transaction of $736,050.00. Following the completion of the transaction, the chairman now owns 281,640 shares of the company’s stock, valued at approximately $5,922,889.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,500 shares of company stock valued at $1,114,550. 5.00% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in HZO. Bank of New York Mellon Corp raised its holdings in MarineMax by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 337,535 shares of the specialty retailer’s stock worth $7,308,000 after purchasing an additional 11,226 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in MarineMax by 3.7% during the 1st quarter. Ameriprise Financial Inc. now owns 129,786 shares of the specialty retailer’s stock worth $2,810,000 after purchasing an additional 4,581 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in MarineMax by 9.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 60,649 shares of the specialty retailer’s stock worth $1,313,000 after purchasing an additional 5,064 shares during the last quarter. Mason Street Advisors LLC raised its holdings in MarineMax by 5.2% during the 1st quarter. Mason Street Advisors LLC now owns 5,676 shares of the specialty retailer’s stock worth $123,000 after purchasing an additional 282 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in MarineMax by 75.6% during the 1st quarter. JPMorgan Chase & Co. now owns 42,767 shares of the specialty retailer’s stock worth $926,000 after purchasing an additional 18,415 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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