MarineMax (NYSE:HZO) Trading 10.2% Higher – Still a Buy?

MarineMax, Inc. (NYSE:HZO) traded up 10.2% during trading on Monday . The stock traded as high as $33.68 and last traded at $33.68. 137,234 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 301,654 shares. The stock had previously closed at $30.56.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Citigroup upgraded shares of MarineMax from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $44.00 in a report on Monday, September 9th. StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, September 3rd. Finally, Benchmark initiated coverage on MarineMax in a research note on Tuesday, October 15th. They set a “buy” rating and a $40.00 price target for the company. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Trading Up 9.1 %

The company’s 50 day simple moving average is $31.75 and its two-hundred day simple moving average is $31.59. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $753.38 million, a price-to-earnings ratio of 20.02 and a beta of 1.85.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its position 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 worth $296,000 after acquiring an additional 2,800 shares during the period. Vanguard Group Inc. boosted its stake in shares of MarineMax by 2.0% in 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 in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of MarineMax by 7.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 23,576 shares of the specialty retailer’s stock valued at $785,000 after purchasing an additional 1,625 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 acquiring an additional 924 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in MarineMax by 3.3% in the first quarter. Janus Henderson Group PLC now owns 16,616 shares of the specialty retailer’s stock valued at $553,000 after purchasing an additional 529 shares during the last quarter. 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.