MarineMax (NYSE:HZO) Shares Up 8.7% – Here’s What Happened

MarineMax, Inc. (NYSE:HZO) shares shot up 8.7% on Wednesday . The company traded as high as $27.96 and last traded at $29.01. 126,149 shares traded hands during trading, a decline of 55% from the average session volume of 283,427 shares. The stock had previously closed at $26.68.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HZO shares. Loop Capital initiated coverage on MarineMax in a research note on Monday, December 22nd. They issued a “buy” rating and a $29.00 price target for the company. Zacks Research lowered MarineMax from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of MarineMax in a research report on Wednesday, October 8th. Wall Street Zen raised MarineMax from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Finally, Citigroup restated a “buy” rating on shares of MarineMax in a research note on Wednesday, January 14th. Six analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.00.

MarineMax Stock Up 7.3%

The company has a quick ratio of 0.32, a current ratio of 1.20 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average price of $24.88 and a 200-day moving average price of $25.23. The stock has a market capitalization of $625.92 million, a P/E ratio of -18.46 and a beta of 1.65.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, November 13th. The specialty retailer reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.11. MarineMax had a positive return on equity of 2.00% and a negative net margin of 1.37%.The company had revenue of $552.15 million during the quarter, compared to analyst estimates of $533.05 million. During the same period in the prior year, the company earned $0.24 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. MarineMax has set its FY 2026 guidance at 0.400-0.950 EPS. As a group, research analysts forecast that MarineMax, Inc. will post 2.41 EPS for the current fiscal year.

Institutional Investors Weigh In On MarineMax

A number of hedge funds have recently bought and sold shares of HZO. Nisa Investment Advisors LLC lifted its position in MarineMax by 54.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,056 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 374 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of MarineMax by 52.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 466 shares in the last quarter. MTM Investment Management LLC bought a new position in shares of MarineMax in the 2nd quarter valued at about $42,000. Russell Investments Group Ltd. lifted its holdings in shares of MarineMax by 93.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,672 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 808 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its position in MarineMax by 12.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,008 shares of the specialty retailer’s stock worth $126,000 after acquiring an additional 567 shares in the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

MarineMax Company Profile

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.