MarineMax, Inc. (NYSE:HZO) had its target price increased by B. Riley FBR, Inc. from $19.75 to $22.00 in a report released on Wednesday. The brokerage presently has a “buy” rating on the specialty retailer’s stock. B. Riley FBR, Inc.’s price target would suggest a potential upside of 18.60% from the company’s current price.
Several other brokerages have also recently weighed in on HZO. B. Riley reaffirmed a “buy” rating and issued a $20.00 price target on shares of MarineMax in a research report on Friday, July 21st. TheStreet cut shares of MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. BidaskClub cut shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Forward View lowered shares of MarineMax from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Craig Hallum set a $21.00 price objective on shares of MarineMax and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. MarineMax has an average rating of “Buy” and an average target price of $21.75.
Shares of MarineMax (NYSE HZO) opened at 18.55 on Wednesday. The company has a market cap of $450.32 million, a P/E ratio of 18.55 and a beta of 0.97. MarineMax has a 12 month low of $13.80 and a 12 month high of $23.65. The company’s 50 day moving average is $16.44 and its 200 day moving average is $17.54.
MarineMax (NYSE:HZO) last announced its quarterly earnings results on Monday, October 30th. The specialty retailer reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The firm had revenue of $250.62 million during the quarter, compared to analysts’ expectations of $231.96 million. During the same quarter in the prior year, the company earned $0.18 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that MarineMax will post $0.89 EPS for the current fiscal year.
MarineMax declared that its board has approved a stock repurchase program on Wednesday, August 2nd that permits the company to buyback 2,000,000 shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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In related news, Director Dean S. Woodman sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $16.00, for a total transaction of $40,000.00. Following the completion of the transaction, the director now owns 14,693 shares in the company, valued at approximately $235,088. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dean S. Woodman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the transaction, the director now owns 15,193 shares of the company’s stock, valued at approximately $227,895. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,500 shares of company stock valued at $167,500. 5.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Eagle Asset Management Inc. raised its stake in shares of MarineMax by 4.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 3,330,527 shares of the specialty retailer’s stock worth $65,111,000 after acquiring an additional 146,127 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in MarineMax by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,206,573 shares of the specialty retailer’s stock valued at $43,138,000 after purchasing an additional 9,452 shares in the last quarter. Impala Asset Management LLC increased its stake in MarineMax by 18.6% during the 2nd quarter. Impala Asset Management LLC now owns 1,795,759 shares of the specialty retailer’s stock valued at $35,107,000 after purchasing an additional 282,017 shares in the last quarter. Vanguard Group Inc. increased its stake in MarineMax by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,349,327 shares of the specialty retailer’s stock valued at $26,380,000 after purchasing an additional 53,443 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in MarineMax by 5.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,177,725 shares of the specialty retailer’s stock valued at $23,025,000 after purchasing an additional 56,596 shares in the last quarter. Hedge funds and other institutional investors own 90.57% of the company’s stock.
MarineMax Company Profile
MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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