Forward View downgraded shares of MarineMax, Inc. (NYSE:HZO) from a buy rating to a hold rating in a research note released on Monday morning. Forward View also issued estimates for MarineMax’s Q4 2017 earnings at $0.11 EPS, FY2017 earnings at $0.90 EPS, Q4 2018 earnings at $0.19 EPS and FY2018 earnings at $1.13 EPS.

Other research analysts have also recently issued reports about the stock. B. Riley reiterated a buy rating and issued a $19.75 target price on shares of MarineMax in a research note on Thursday, October 26th. Citigroup Inc. boosted their target price on shares of MarineMax from $18.00 to $20.00 and gave the company a buy rating in a research note on Monday, October 2nd. TheStreet cut shares of MarineMax from a b rating to a c+ rating in a research note on Wednesday, July 26th. BidaskClub lowered shares of MarineMax from a hold rating to a sell rating in a research report on Tuesday, July 25th. Finally, Ifs Securities reissued a strong-buy rating and issued a $20.00 price target on shares of MarineMax in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $21.67.

MarineMax (NYSE:HZO) last released its earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.11. The firm had revenue of $250.62 million for the quarter, compared to analysts’ expectations of $231.96 million. MarineMax had a net margin of 2.24% and a return on equity of 7.82%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share.

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MarineMax announced that its board has initiated a stock repurchase plan on Wednesday, August 2nd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Hilliard M. Eure sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $16.00, for a total value of $40,000.00. Following the sale, the director now owns 14,000 shares of the company’s stock, valued at $224,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dean S. Woodman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 15,193 shares in the company, valued at approximately $227,895. The disclosure for this sale can be found here. In the last three months, insiders sold 10,500 shares of company stock worth $167,500. Insiders own 5.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in MarineMax by 51.7% during the 3rd quarter. American Century Companies Inc. now owns 1,208,999 shares of the specialty retailer’s stock worth $20,009,000 after acquiring an additional 412,038 shares during the period. Gabelli Funds LLC bought a new stake in MarineMax during the 3rd quarter worth approximately $248,000. Teton Advisors Inc. increased its holdings in MarineMax by 495.8% during the 3rd quarter. Teton Advisors Inc. now owns 77,449 shares of the specialty retailer’s stock worth $1,282,000 after acquiring an additional 64,449 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in MarineMax by 22.4% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 19,379 shares of the specialty retailer’s stock worth $321,000 after acquiring an additional 3,544 shares during the period. Finally, Foundry Partners LLC increased its holdings in MarineMax by 5.0% during the 3rd quarter. Foundry Partners LLC now owns 287,990 shares of the specialty retailer’s stock worth $4,766,000 after acquiring an additional 13,650 shares during the period. 90.57% of the stock is currently owned by institutional investors.

About MarineMax

MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.

Analyst Recommendations for MarineMax (NYSE:HZO)

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