MarineMax, Inc. (NYSE:HZO) Receives $42.20 Consensus PT from Analysts

Shares of MarineMax, Inc. (NYSE:HZO) have been assigned a consensus rating of “Buy” from the five ratings firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $42.20.

Several equities analysts have commented on HZO shares. B. Riley decreased their target price on shares of MarineMax from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. DA Davidson boosted their price objective on shares of MarineMax from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, September 3rd. Citigroup raised MarineMax from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $44.00 in a report on Monday, September 9th. Finally, Truist Financial raised their price objective on MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

MarineMax Trading Up 1.1 %

Shares of NYSE:HZO opened at $29.71 on Friday. The business’s 50 day simple moving average is $31.83 and its 200 day simple moving average is $31.03. MarineMax has a 1 year low of $22.51 and a 1 year high of $39.85. 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 company has a market capitalization of $662.56 million, a P/E ratio of 10.79 and a beta of 1.82.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, July 25th. The specialty retailer reported $1.51 earnings per share (EPS) 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 return on equity of 6.26% and a net margin of 2.00%. MarineMax’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.07 EPS. On average, research analysts anticipate that MarineMax will post 2.33 EPS for the current fiscal year.

Institutional Investors Weigh In On MarineMax

Several hedge funds have recently modified their holdings of HZO. Canada Pension Plan Investment Board bought a new position in MarineMax in the second quarter valued at about $52,000. Price T Rowe Associates Inc. MD boosted its position in MarineMax by 17.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,158 shares of the specialty retailer’s stock worth $205,000 after buying an additional 924 shares during the period. The Manufacturers Life Insurance Company grew its holdings in MarineMax by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer’s stock worth $267,000 after acquiring an additional 408 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in MarineMax in the 3rd quarter valued at approximately $301,000. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of MarineMax by 45.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,897 shares of the specialty retailer’s stock valued at $296,000 after acquiring an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.

About MarineMax

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.