MarineMax Inc (NYSE:HZO) – Research analysts at Wedbush boosted their FY2019 earnings per share (EPS) estimates for MarineMax in a research report issued to clients and investors on Tuesday, October 30th. Wedbush analyst J. Hardiman now anticipates that the specialty retailer will earn $1.97 per share for the year, up from their prior forecast of $1.68. Wedbush currently has a “Neutral” rating and a $25.00 price objective on the stock. Wedbush also issued estimates for MarineMax’s Q4 2019 earnings at $0.55 EPS and FY2020 earnings at $2.17 EPS.
MarineMax (NYSE:HZO) last posted its earnings results on Tuesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.22. MarineMax had a return on equity of 11.97% and a net margin of 3.34%. The firm had revenue of $308.59 million for the quarter, compared to analyst estimates of $273.60 million. During the same quarter in the prior year, the company earned $0.22 EPS. MarineMax’s revenue was up 23.1% on a year-over-year basis.
Several other research analysts also recently weighed in on HZO. Citigroup cut their price target on MarineMax from $28.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, August 15th. B. Riley upgraded MarineMax from a “neutral” rating to a “buy” rating and boosted their price target for the company from $23.50 to $27.00 in a report on Friday, July 27th. Ifs Securities reiterated a “buy” rating and issued a $31.00 price target on shares of MarineMax in a report on Tuesday. Zacks Investment Research upgraded MarineMax from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Thursday, October 18th. Finally, ValuEngine upgraded MarineMax from a “hold” rating to a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $26.00.
HZO stock opened at $24.84 on Friday. MarineMax has a 1 year low of $16.40 and a 1 year high of $25.14. The company has a market capitalization of $614.19 million, a P/E ratio of 14.61 and a beta of 0.94.
In other MarineMax news, Director Joseph Allen Watters sold 2,500 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $21.17, for a total value of $52,925.00. Following the completion of the transaction, the director now directly owns 62,413 shares in the company, valued at approximately $1,321,283.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its holdings in shares of MarineMax by 3.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 114,694 shares of the specialty retailer’s stock worth $2,174,000 after buying an additional 3,576 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of MarineMax by 12.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 33,984 shares of the specialty retailer’s stock worth $644,000 after buying an additional 3,722 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of MarineMax by 13.5% during the 2nd quarter. California Public Employees Retirement System now owns 45,286 shares of the specialty retailer’s stock worth $858,000 after buying an additional 5,386 shares during the last quarter. Swiss National Bank increased its holdings in shares of MarineMax by 13.9% during the 2nd quarter. Swiss National Bank now owns 48,400 shares of the specialty retailer’s stock worth $917,000 after buying an additional 5,900 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of MarineMax during the 2nd quarter worth $190,000. Institutional investors and hedge funds own 89.20% of the company’s stock.
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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