MarineMax, Inc. (HZO) Price Target Increased to $20.00 by Analysts at Citigroup Inc.
MarineMax, Inc. (NYSE:HZO) had its target price lifted by analysts at Citigroup Inc. from $18.00 to $20.00 in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 20.85% from the stock’s current price.
HZO has been the topic of several other research reports. B. Riley reiterated a “buy” rating and issued a $19.75 price objective on shares of MarineMax in a research note on Monday, September 25th. TheStreet downgraded MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. BidaskClub downgraded MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded MarineMax from a “hold” rating to a “sell” rating in a research report on Friday, June 30th. Finally, Ifs Securities restated a “strong-buy” rating and issued a $20.00 target price on shares of MarineMax in a research note on Thursday, August 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $22.11.
MarineMax (NYSE HZO) opened at 16.55 on Monday. The firm has a market capitalization of $401.77 million, a P/E ratio of 16.55 and a beta of 0.97. The company has a 50 day moving average of $15.60 and a 200 day moving average of $18.62. MarineMax has a 1-year low of $13.80 and a 1-year high of $23.65.
MarineMax (NYSE:HZO) last released its earnings results on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.11). MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The company had revenue of $329.80 million for the quarter, compared to the consensus estimate of $383.01 million. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis. On average, equities research analysts anticipate that MarineMax will post $0.93 earnings per share for the current year.
MarineMax declared that its board has approved a stock buyback program on Wednesday, August 2nd that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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In other MarineMax news, Director Dean S. Woodman sold 3,000 shares of the stock in a transaction 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 sale, the director now owns 15,193 shares in the company, valued at $227,895. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dean S. Woodman sold 2,500 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $16.00, for a total value of $40,000.00. Following the sale, the director now owns 14,693 shares in the company, valued at approximately $235,088. The disclosure for this sale can be found here. Insiders sold a total of 8,000 shares of company stock valued at $125,000 over the last quarter. 5.00% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC grew its position in shares of MarineMax by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 44,896 shares of the specialty retailer’s stock valued at $869,000 after purchasing an additional 1,498 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of MarineMax by 0.8% during the 1st quarter. Wells Fargo & Company MN now owns 109,747 shares of the specialty retailer’s stock valued at $2,376,000 after purchasing an additional 913 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of MarineMax by 6.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 36,134 shares of the specialty retailer’s stock valued at $781,000 after purchasing an additional 2,133 shares during the period. Bank of New York Mellon Corp raised its stake in shares of MarineMax by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 337,535 shares of the specialty retailer’s stock valued at $7,308,000 after purchasing an additional 11,226 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of MarineMax by 12.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 498 shares during the period. 90.57% of the stock is owned by hedge funds and other institutional investors.
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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