MarineMax (NYSE:HZO) Hits New 1-Year High – Still a Buy?

MarineMax, Inc. (NYSE:HZO) reached a new 52-week high on Thursday. The stock traded as high as $52.59 and last traded at $52.5950, with a volume of 358,631 shares changing hands. The stock had previously closed at $52.42.

Analysts Set New Price Targets

A number of analysts have issued reports on HZO shares. Northcoast Research lowered shares of MarineMax from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Benchmark downgraded shares of MarineMax from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of MarineMax from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Truist Financial cut shares of MarineMax from a “buy” rating to a “hold” rating and raised their price target for the company from $39.00 to $53.00 in a research report on Wednesday, August 12th. Finally, Citigroup downgraded shares of MarineMax from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $41.00 to $53.00 in a research note on Friday, October 2nd. Eight analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.67.

MarineMax Stock Performance

The firm’s fifty day moving average price is $52.31 and its 200-day moving average price is $40.57. The company has a current ratio of 1.23, a quick ratio of 0.34 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 375.39 and a beta of 1.70.

MarineMax (NYSE:HZO) last posted its earnings results on Thursday, July 23rd. The specialty retailer reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). MarineMax had a net margin of 0.18% and a return on equity of 1.51%. The firm had revenue of $611.26 million during the quarter, compared to analysts’ expectations of $682.29 million. During the same period in the previous year, the firm posted ($2.42) earnings per share. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. Analysts expect that MarineMax, Inc. will post 0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HZO. Public Employees Retirement System of Ohio acquired a new stake in shares of MarineMax during the 2nd quarter valued at about $59,000. Nisa Investment Advisors LLC increased its holdings in MarineMax by 42.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,754 shares of the specialty retailer’s stock worth $92,000 after buying an additional 519 shares during the last quarter. GAMMA Investing LLC raised its position in MarineMax by 22.8% during the second quarter. GAMMA Investing LLC now owns 1,941 shares of the specialty retailer’s stock valued at $71,000 after acquiring an additional 360 shares in the last quarter. Fifth Third Bancorp raised its position in MarineMax by 3,613.3% during the first quarter. Fifth Third Bancorp now owns 4,196 shares of the specialty retailer’s stock valued at $114,000 after acquiring an additional 4,083 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new position in MarineMax during the third quarter valued at approximately $260,000. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

MarineMax Company Profile

MarineMax, Inc is a recreational boat and yacht retailer based in Clearwater, Florida. The company sells new and pre-owned powerboats, sailboats, yachts and related marine products through a network of dealerships and brokerage operations.

In addition to boat sales, MarineMax provides maintenance, repair, storage, parts and other marina services. It also offers financing and insurance products through third-party relationships, as well as charter, yacht-management and boating-lifestyle services through its affiliated businesses.

MarineMax serves customers primarily in the United States, with operations concentrated in boating markets including Florida, the Northeast, the Midwest and other coastal and inland regions.