MarineMax (NYSE:HZO) Receives New Coverage from Analysts at Benchmark

Benchmark assumed coverage on shares of MarineMax (NYSE:HZO) in a research note issued to investors on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $40.00 price target on the specialty retailer’s stock. Benchmark’s price objective points to a potential upside of 20.74% from the stock’s current price.

Several other research analysts have also weighed in on the company. Citigroup upgraded MarineMax from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $44.00 in a report on Monday, September 9th. Truist Financial lifted their price objective on MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a report on Friday, July 26th. DA Davidson increased their target price on MarineMax from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus upped their price target on shares of MarineMax from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.83.

MarineMax Stock Performance

Shares of NYSE:HZO opened at $33.13 on Tuesday. The firm’s 50 day simple moving average is $31.82 and its 200 day simple moving average is $31.02. MarineMax has a fifty-two week low of $22.51 and a fifty-two week high of $39.85. The company has a market capitalization of $738.83 million, a price-to-earnings ratio of 12.00 and a beta of 1.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.20 and a quick ratio of 0.36.

MarineMax (NYSE:HZO) last posted its earnings results on Thursday, July 25th. The specialty retailer reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.16. The company had revenue of $757.72 million for the quarter, compared to analyst estimates of $720.30 million. MarineMax had a net margin of 2.00% and a return on equity of 6.26%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $2.07 earnings per share. As a group, sell-side analysts forecast that MarineMax will post 2.28 earnings per share for the current year.

Institutional Investors Weigh In On MarineMax

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of MarineMax by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,468,991 shares of the specialty retailer’s stock worth $48,859,000 after acquiring an additional 29,473 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in MarineMax by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock worth $46,767,000 after purchasing an additional 110,601 shares during the last quarter. Levin Capital Strategies L.P. boosted its holdings in MarineMax by 140.6% during 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 purchasing an additional 610,994 shares during the last quarter. Private Management Group Inc. grew its position in MarineMax by 6.8% in the second quarter. Private Management Group Inc. now owns 478,990 shares of the specialty retailer’s stock valued at $15,505,000 after purchasing an additional 30,677 shares in the last quarter. Finally, Millennium Management LLC increased its stake in MarineMax by 22.7% in the 2nd quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock valued at $13,012,000 after buying an additional 74,451 shares during the last quarter. 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.