MarineMax, Inc. (HZO) PT Raised to $20.00
MarineMax, Inc. (NYSE:HZO) had its target price raised by Citigroup Inc. from $18.00 to $20.00 in a report issued on Monday. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Citigroup Inc.’s price target points to a potential upside of 16.96% from the company’s current price.
HZO has been the topic of several other research reports. B. Riley reiterated a “buy” rating and issued a $19.75 target price on shares of MarineMax in a research note on Monday, September 25th. TheStreet downgraded shares of MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. BidaskClub lowered shares of MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of MarineMax from a “hold” rating to a “sell” rating in a report on Friday, June 30th. Finally, Ifs Securities reaffirmed a “strong-buy” rating and issued a $20.00 price objective on shares of MarineMax in a research report on Thursday, August 24th. Two analysts have rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $22.11.
Shares of MarineMax (HZO) opened at 17.10 on Monday. MarineMax has a one year low of $13.80 and a one year high of $23.65. The company has a market capitalization of $415.12 million, a price-to-earnings ratio of 17.10 and a beta of 0.97. The firm’s 50-day moving average price is $15.88 and its 200-day moving average price is $18.19.
MarineMax (NYSE:HZO) last posted its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.11). MarineMax had a return on equity of 7.53% and a net margin of 2.45%. The company had revenue of $329.80 million during the quarter, compared to analysts’ expectations of $383.01 million. During the same quarter in the previous year, the company earned $0.57 EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. Analysts anticipate that MarineMax will post $0.92 earnings per share for the current year.
MarineMax announced that its Board of Directors has approved a share repurchase program on Wednesday, August 2nd that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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In related news, Director Dean S. Woodman sold 3,000 shares of the 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 transaction, the director now owns 15,193 shares in the company, valued at $227,895. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dean S. Woodman sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $16.00, for a total transaction of $40,000.00. Following the transaction, the director now owns 14,693 shares in the company, valued at approximately $235,088. The disclosure for this sale can be found here. Insiders sold 8,000 shares of company stock valued at $125,000 over the last quarter. Company insiders own 5.00% of the company’s stock.
Large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its stake in MarineMax by 12.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 498 shares during the last quarter. Globeflex Capital L P bought a new position in shares of MarineMax during the 1st quarter valued at $116,000. Mason Street Advisors LLC lifted its holdings in shares of MarineMax by 5.2% during the 1st quarter. Mason Street Advisors LLC now owns 5,676 shares of the specialty retailer’s stock valued at $123,000 after buying an additional 282 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in shares of MarineMax by 2.8% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the specialty retailer’s stock valued at $192,000 after buying an additional 240 shares during the period. Finally, UBS Group AG lifted its holdings in shares of MarineMax by 175.7% during the 1st quarter. UBS Group AG now owns 9,697 shares of the specialty retailer’s stock valued at $210,000 after buying an additional 6,180 shares during the period. 90.57% of the stock is owned by institutional investors and hedge funds.
MarineMax Company Profile
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.
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