MarineMax (NYSE:HZO) Trading 8.7% Higher – What’s Next?

MarineMax, Inc. (NYSE:HZO) was up 8.7% on Monday . The company traded as high as $26.76 and last traded at $26.85. Approximately 31,390 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 461,852 shares. The stock had previously closed at $24.71.

Analyst Ratings Changes

HZO has been the subject of a number of research analyst reports. Zacks Research raised MarineMax from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Loop Capital started coverage on MarineMax in a research report on Monday, December 22nd. They issued a “buy” rating and a $29.00 price objective on the stock. Benchmark restated a “buy” rating on shares of MarineMax in a research note on Friday, January 30th. Citigroup reaffirmed a “buy” rating on shares of MarineMax in a research report on Wednesday, January 14th. Finally, National Bank Financial set a $35.00 target price on MarineMax in a research note on Friday, January 30th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.80.

MarineMax Stock Up 0.1%

The stock has a 50 day moving average of $28.15 and a 200-day moving average of $26.15. The firm has a market capitalization of $580.09 million, a P/E ratio of -9.83 and a beta of 1.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.29 and a current ratio of 1.19.

MarineMax (NYSE:HZO) last issued its earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). The business had revenue of $505.18 million for the quarter, compared to the consensus estimate of $481.67 million. MarineMax had a positive return on equity of 1.13% and a negative net margin of 2.46%.MarineMax’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. Research analysts predict that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

MarineMax announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 4th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 15.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On MarineMax

Several hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in shares of MarineMax by 6.9% during the 1st quarter. Royal Bank of Canada now owns 140,829 shares of the specialty retailer’s stock valued at $3,027,000 after purchasing an additional 9,050 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MarineMax by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,921 shares of the specialty retailer’s stock worth $278,000 after purchasing an additional 546 shares during the period. Jones Financial Companies Lllp purchased a new position in MarineMax during the 1st quarter valued at about $168,000. Goldman Sachs Group Inc. grew its holdings in MarineMax by 69.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 348,664 shares of the specialty retailer’s stock valued at $7,496,000 after buying an additional 142,775 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of MarineMax by 52.7% during the second 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 during the period. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

About MarineMax

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.