Stifel Nicolaus Lowers MarineMax (NYSE:HZO) Price Target to $35.00

MarineMax (NYSE:HZO) had its price target dropped by investment analysts at Stifel Nicolaus from $37.00 to $35.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Stifel Nicolaus’ target price indicates a potential upside of 37.96% from the company’s current price.

HZO has been the topic of a number of other reports. Truist Financial dropped their target price on shares of MarineMax from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday. DA Davidson reiterated a “buy” rating and issued a $34.00 target price on shares of MarineMax in a research note on Friday, March 15th. Finally, StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.40.

MarineMax Stock Down 0.9 %

MarineMax stock opened at $25.37 on Friday. MarineMax has a fifty-two week low of $22.51 and a fifty-two week high of $42.88. The stock has a market cap of $565.75 million, a PE ratio of 9.19 and a beta of 1.69. The firm’s 50-day simple moving average is $30.20 and its 200 day simple moving average is $31.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.35 and a current ratio of 1.24.

MarineMax (NYSE:HZO) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.55). The firm had revenue of $582.90 million for the quarter, compared to analysts’ expectations of $590.19 million. MarineMax had a return on equity of 7.66% and a net margin of 2.56%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. Research analysts predict that MarineMax will post 3.09 EPS for the current fiscal year.

Insider Activity

In other news, Director Clint Moore sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $31.12, for a total value of $124,480.00. Following the sale, the director now owns 20,544 shares of the company’s stock, valued at $639,329.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Clint Moore sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction of $124,480.00. Following the sale, the director now owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles A. Cashman sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $29.76, for a total transaction of $223,200.00. Following the sale, the executive vice president now directly owns 63,981 shares in the company, valued at approximately $1,904,074.56. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Institutional Trading of MarineMax

A number of hedge funds and other institutional investors have recently bought and sold shares of HZO. Broad Bay Capital Management LP increased its holdings in MarineMax by 34.1% during the 4th quarter. Broad Bay Capital Management LP now owns 704,034 shares of the specialty retailer’s stock worth $27,387,000 after acquiring an additional 179,034 shares during the period. Levin Capital Strategies L.P. increased its holdings in shares of MarineMax by 19.1% in the 3rd quarter. Levin Capital Strategies L.P. now owns 708,439 shares of the specialty retailer’s stock worth $23,251,000 after buying an additional 113,850 shares during the last quarter. Barclays PLC increased its holdings in shares of MarineMax by 386.0% in the 3rd quarter. Barclays PLC now owns 110,446 shares of the specialty retailer’s stock worth $3,625,000 after buying an additional 87,722 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of MarineMax by 438.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,500 shares of the specialty retailer’s stock worth $1,854,000 after buying an additional 46,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of MarineMax by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 456,701 shares of the specialty retailer’s stock worth $17,766,000 after buying an additional 31,856 shares during the last quarter. Institutional investors own 92.85% of the company’s stock.

MarineMax Company Profile

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.