MarineMax Inc (NYSE:HZO) was up 5.5% during trading on Thursday after Raymond James raised their price target on the stock from $24.00 to $28.00. Raymond James currently has a strong-buy rating on the stock. MarineMax traded as high as $24.06 and last traded at $24.01. Approximately 551,435 shares changed hands during trading, an increase of 77% from the average daily volume of 310,696 shares. The stock had previously closed at $22.76.
Other equities research analysts have also issued research reports about the stock. Citigroup reduced their price target on shares of MarineMax from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, August 15th. B. Riley raised shares of MarineMax from a “neutral” rating to a “buy” rating and upped their price target for the company from $23.50 to $27.00 in a research report on Friday, July 27th. Ifs Securities reaffirmed a “buy” rating and set a $31.00 price target on shares of MarineMax in a research report on Tuesday. Zacks Investment Research raised shares of MarineMax from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, October 18th. Finally, ValuEngine raised shares of MarineMax from a “hold” rating to a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $26.00.
In related news, Director Joseph Allen Watters sold 2,500 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $21.17, for a total value of $52,925.00. Following the completion of the sale, the director now directly owns 62,413 shares of the company’s stock, valued at approximately $1,321,283.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in HZO. Intrinsic Edge Capital Management LLC increased its holdings in MarineMax by 265.5% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 361,033 shares of the specialty retailer’s stock worth $6,842,000 after acquiring an additional 262,266 shares in the last quarter. WINTON GROUP Ltd increased its holdings in MarineMax by 75.5% in the 2nd quarter. WINTON GROUP Ltd now owns 458,925 shares of the specialty retailer’s stock worth $8,697,000 after acquiring an additional 197,449 shares in the last quarter. BlackRock Inc. increased its holdings in MarineMax by 6.3% in the 2nd quarter. BlackRock Inc. now owns 3,110,799 shares of the specialty retailer’s stock worth $58,949,000 after acquiring an additional 183,082 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new stake in MarineMax in the 3rd quarter worth approximately $3,037,000. Finally, Millennium Management LLC purchased a new stake in MarineMax in the 2nd quarter worth approximately $2,626,000. 89.20% of the stock is owned by institutional investors.
The firm has a market capitalization of $593.68 million, a PE ratio of 14.12 and a beta of 1.30.
MarineMax (NYSE:HZO) last released its earnings results on Tuesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.22. MarineMax had a net margin of 3.34% and a return on equity of 11.97%. The company had revenue of $308.59 million during the quarter, compared to analyst estimates of $273.60 million. During the same period in the prior year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. As a group, equities research analysts predict that MarineMax Inc will post 1.9 EPS for the current fiscal year.
MarineMax Company Profile (NYSE:HZO)
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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