Zacks Investment Research cut shares of MarineMax (NYSE:HZO) from a buy rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “MarineMax, Inc. is the nation’s largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Galeon, Grady-White, Harris, Crest, Scout, Sailfish, Sea Pro, Scarab Jet Boats, Aquila, and Nautique, MarineMax sells new and used recreational boats and related marine products and services as well as provides yacht brokerage and charter services. MarineMax currently has 62 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands. “
Several other equities analysts also recently commented on the stock. TheStreet upgraded shares of MarineMax from a c+ rating to a b rating in a report on Thursday, December 7th. CL King began coverage on shares of MarineMax in a report on Monday, November 13th. They set a neutral rating on the stock. B. Riley upped their price target on shares of MarineMax from $19.75 to $22.00 and gave the company a buy rating in a report on Wednesday, November 1st. Craig Hallum set a $21.00 price target on shares of MarineMax and gave the company a buy rating in a report on Tuesday, October 31st. Finally, Forward View downgraded shares of MarineMax from a buy rating to a hold rating in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $21.57.
MarineMax (NYSE:HZO) last posted its earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. The firm had revenue of $250.62 million for the quarter, compared to the consensus estimate of $231.96 million. MarineMax had a net margin of 2.24% and a return on equity of 7.82%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. analysts forecast that MarineMax will post 1.17 earnings per share for the current year.
In other MarineMax news, Director Hilliard M. Eure sold 2,500 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $21.00, for a total value of $52,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman William H. Mcgill, Jr. sold 35,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $21.03, for a total transaction of $736,050.00. Following the completion of the transaction, the chairman now owns 281,640 shares in the company, valued at $5,922,889.20. The disclosure for this sale can be found here. Insiders have sold a total of 96,900 shares of company stock worth $2,083,440 over the last quarter. 5.00% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. grew its stake in MarineMax by 61.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 209,829 shares of the specialty retailer’s stock worth $4,102,000 after acquiring an additional 80,043 shares in the last quarter. Sei Investments Co. grew its stake in MarineMax by 47.3% in the 3rd quarter. Sei Investments Co. now owns 59,824 shares of the specialty retailer’s stock worth $990,000 after acquiring an additional 19,208 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of MarineMax in the 3rd quarter worth approximately $4,065,000. Impala Asset Management LLC lifted its position in shares of MarineMax by 18.6% in the 2nd quarter. Impala Asset Management LLC now owns 1,795,759 shares of the specialty retailer’s stock worth $35,107,000 after purchasing an additional 282,017 shares during the period. Finally, Kennedy Capital Management Inc. lifted its position in shares of MarineMax by 855.1% in the 2nd quarter. Kennedy Capital Management Inc. now owns 331,000 shares of the specialty retailer’s stock worth $6,471,000 after purchasing an additional 296,343 shares during the period. Institutional investors and hedge funds own 88.43% 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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