Zacks Investment Research upgraded shares of MarineMax, Inc. (NYSE:HZO) from a hold rating to a buy rating in a report published on Tuesday morning. Zacks Investment Research currently has $24.00 target price on the stock.

According to Zacks, “MarineMax, Inc. is a recreational boat dealer in the United States. Through retail locations, the company sells new and used recreational boats and fishing boats with a focus on premium brands in each segment. “

HZO has been the subject of a number of other reports. B. Riley reaffirmed a buy rating and set a $22.50 price objective on shares of MarineMax in a report on Tuesday, November 1st. Wedbush lifted their price objective on shares of MarineMax from $19.00 to $22.00 and gave the stock a neutral rating in a report on Wednesday, January 25th. Forward View set a $25.00 price objective on shares of MarineMax and gave the stock a buy rating in a report on Wednesday, January 11th. Citigroup Inc. assumed coverage on shares of MarineMax in a report on Friday, February 10th. They set a buy rating and a $26.00 price objective for the company. Finally, TheStreet downgraded shares of MarineMax from a buy rating to a hold rating in a report on Tuesday, November 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $24.50.

Analyst Recommendations for MarineMax (NYSE:HZO)

Shares of MarineMax (NYSE:HZO) opened at 21.50 on Tuesday. MarineMax has a one year low of $14.99 and a one year high of $22.05. The firm has a market capitalization of $521.22 million, a P/E ratio of 21.74 and a beta of 0.91. The firm’s 50-day moving average price is $19.90 and its 200-day moving average price is $19.66.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Tuesday, January 24th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.13. MarineMax had a net margin of 2.47% and a return on equity of 7.78%. The company earned $226.90 million during the quarter, compared to the consensus estimate of $187.02 million. During the same period in the previous year, the firm posted $0.03 EPS. The firm’s revenue was up 33.8% compared to the same quarter last year. On average, equities analysts forecast that MarineMax will post $1.26 earnings per share for the current year.

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In other news, EVP Charles A. Cashman sold 9,286 shares of MarineMax stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $18.66, for a total transaction of $173,276.76. Following the completion of the sale, the executive vice president now directly owns 6,712 shares of the company’s stock, valued at approximately $125,245.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hilliard M. Eure sold 9,000 shares of MarineMax stock in a transaction on Monday, December 5th. The stock was sold at an average price of $20.09, for a total transaction of $180,810.00. Following the sale, the director now directly owns 14,000 shares of the company’s stock, valued at $281,260. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Scopus Asset Management L.P. acquired a new stake in MarineMax during the third quarter valued at $12,151,000. Impala Asset Management LLC boosted its position in shares of MarineMax by 52.2% in the second quarter. Impala Asset Management LLC now owns 1,505,715 shares of the company’s stock worth $25,552,000 after buying an additional 516,572 shares during the last quarter. SG Capital Management LLC boosted its position in shares of MarineMax by 1,238.0% in the second quarter. SG Capital Management LLC now owns 485,307 shares of the company’s stock worth $8,236,000 after buying an additional 449,035 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of MarineMax by 18.2% in the third quarter. Eagle Asset Management Inc. now owns 2,523,072 shares of the company’s stock worth $52,858,000 after buying an additional 388,469 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its position in shares of MarineMax by 43.8% in the third quarter. Hood River Capital Management LLC now owns 683,521 shares of the company’s stock worth $14,320,000 after buying an additional 208,110 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

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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