Truist Financial Raises MarineMax (NYSE:HZO) Price Target to $44.00

MarineMax (NYSE:HZO) had its price objective lifted by Truist Financial from $35.00 to $44.00 in a report published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer’s stock.

A number of other research firms have also weighed in on HZO. DA Davidson increased their price objective on MarineMax from $34.00 to $37.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Stifel Nicolaus increased their price objective on MarineMax from $35.00 to $40.00 and gave the company a buy rating in a research note on Friday, July 12th. Finally, B. Riley dropped their price objective on MarineMax from $48.00 to $46.00 and set a buy rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, MarineMax has a consensus rating of Moderate Buy and a consensus price target of $41.75.

MarineMax Stock Up 0.3 %

Shares of NYSE HZO opened at $37.20 on Friday. MarineMax has a one year low of $22.51 and a one year high of $42.88. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.20 and a quick ratio of 0.36. The firm’s 50 day simple moving average is $32.30 and its two-hundred day simple moving average is $30.82. The stock has a market capitalization of $830.30 million, a P/E ratio of 13.48 and a beta of 1.83.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.16. MarineMax had a net margin of 2.00% and a return on equity of 6.26%. The business had revenue of $757.72 million for the quarter, compared to analysts’ expectations of $720.30 million. During the same period last year, the business earned $2.07 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, analysts expect that MarineMax will post 2.4 EPS for the current fiscal year.

Institutional Trading of MarineMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HZO. Levin Capital Strategies L.P. lifted its stake in MarineMax by 140.6% in the first quarter. Levin Capital Strategies L.P. now owns 1,045,514 shares of the specialty retailer’s stock worth $34,774,000 after acquiring an additional 610,994 shares during the period. Broad Bay Capital Management LP lifted its position in MarineMax by 34.1% during the fourth quarter. Broad Bay Capital Management LP now owns 704,034 shares of the specialty retailer’s stock valued at $27,387,000 after buying an additional 179,034 shares during the period. Charles Schwab Investment Management Inc. lifted its position in MarineMax by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 456,701 shares of the specialty retailer’s stock valued at $17,766,000 after buying an additional 31,856 shares during the period. Vanguard Group Inc. lifted its position in MarineMax by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,468,991 shares of the specialty retailer’s stock valued at $48,859,000 after buying an additional 29,473 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in MarineMax by 50.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 84,967 shares of the specialty retailer’s stock valued at $3,305,000 after buying an additional 28,467 shares during the period. Hedge funds and other institutional investors own 92.85% of the company’s stock.

MarineMax Company Profile

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.