MarineMax, Inc. (HZO) PT Set at $20.00 by B. Riley
MarineMax, Inc. (NYSE:HZO) received a $20.00 price objective from equities researchers at B. Riley in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the specialty retailer’s stock. B. Riley’s price objective suggests a potential upside of 3.90% from the company’s current price.
HZO has been the topic of a number of other research reports. BidaskClub cut MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Citigroup Inc. upped their price target on MarineMax from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. Craig Hallum set a $21.00 price target on MarineMax and gave the company a “buy” rating in a research report on Tuesday. Forward View cut MarineMax from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Ifs Securities reaffirmed a “strong-buy” rating and set 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 given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. MarineMax has an average rating of “Buy” and an average target price of $21.67.
MarineMax (NYSE:HZO) last issued its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. MarineMax had a return on equity of 7.82% and a net margin of 2.24%. The firm had revenue of $250.62 million for the quarter, compared to analysts’ expectations of $231.96 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year.
MarineMax announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 2nd that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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In related news, Director Dean S. Woodman sold 2,500 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $16.00, for a total transaction of $40,000.00. Following the sale, the director now owns 14,693 shares of the company’s stock, valued at approximately $235,088. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dean S. Woodman sold 3,000 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $15.00, for a total value of $45,000.00. Following 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. Insiders have sold a total of 10,500 shares of company stock worth $167,500 in the last three months. 5.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its holdings in shares of MarineMax by 58.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,348 shares of the specialty retailer’s stock valued at $144,000 after acquiring an additional 2,699 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of MarineMax by 2.8% in 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 acquiring an additional 240 shares in the last quarter. UBS Group AG raised its holdings in shares of MarineMax by 175.7% in the 1st quarter. UBS Group AG now owns 9,697 shares of the specialty retailer’s stock valued at $210,000 after acquiring an additional 6,180 shares in the last quarter. CAPROCK Group Inc. purchased a new stake in shares of MarineMax in the 3rd quarter valued at about $213,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of MarineMax in the 3rd quarter valued at about $232,000. 90.57% of the stock is currently 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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