MarineMax (NYSE:HZO) Cut to Sell at StockNews.com

StockNews.com cut shares of MarineMax (NYSE:HZO) from a hold rating to a sell rating in a research note released on Wednesday.

Separately, Benchmark started coverage on MarineMax in a research report on Tuesday, October 15th. They set a “buy” rating and a $40.00 target price on the stock. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, MarineMax has a consensus rating of “Moderate Buy” and an average target price of $41.83.

MarineMax Stock Down 3.7 %

MarineMax stock opened at $26.75 on Wednesday. The firm has a market capitalization of $604.42 million, a price-to-earnings ratio of 16.21 and a beta of 1.89. The firm’s fifty day moving average price is $30.26 and its two-hundred day moving average price is $31.53. MarineMax has a 1-year low of $22.51 and a 1-year high of $38.20. The company has a current ratio of 1.19, a quick ratio of 0.34 and a debt-to-equity ratio of 0.36.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. The business had revenue of $563.10 million for the quarter, compared to analysts’ expectations of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 EPS. On average, equities research analysts predict that MarineMax will post 2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarineMax

Several institutional investors have recently modified their holdings of HZO. Oliver Luxxe Assets LLC purchased a new stake in shares of MarineMax during the fourth quarter valued at approximately $1,316,000. JPMorgan Chase & Co. increased its position in shares of MarineMax by 8.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,705 shares of the specialty retailer’s stock valued at $413,000 after purchasing an additional 905 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of MarineMax during the 3rd quarter valued at $236,000. Systematic Financial Management LP bought a new stake in shares of MarineMax during the 3rd quarter worth $183,000. Finally, RBF Capital LLC boosted its holdings in shares of MarineMax by 55.9% in the 3rd quarter. RBF Capital LLC now owns 93,544 shares of the specialty retailer’s stock worth $3,299,000 after buying an additional 33,544 shares during the last quarter. 92.85% of the stock is owned by institutional investors.

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.