MarineMax, Inc. (HZO) Receives Consensus Recommendation of “Buy” from Analysts
Shares of MarineMax, Inc. (NYSE:HZO) have been assigned a consensus rating of “Buy” from the eight analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $21.79.
A number of equities analysts have recently issued reports on the stock. B. Riley restated a “buy” rating and issued a $19.75 price objective on shares of MarineMax in a research note on Monday, September 25th. Citigroup Inc. increased their price objective on shares of MarineMax from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. BidaskClub cut shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Ifs Securities restated a “strong-buy” rating and issued a $20.00 price objective on shares of MarineMax in a research note on Thursday, August 24th. Finally, TheStreet cut shares of MarineMax from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th.
In related news, Director Hilliard M. Eure sold 2,500 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $16.00, for a total transaction of $40,000.00. Following the completion of the sale, the director now owns 14,000 shares in the company, valued at approximately $224,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dean S. Woodman sold 3,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $227,895. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock valued at $167,500 in the last quarter. 5.00% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. increased its position in shares of MarineMax by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 21,619 shares of the specialty retailer’s stock worth $423,000 after purchasing an additional 56 shares in the last quarter. Arizona State Retirement System increased its position in shares of MarineMax by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 12,722 shares of the specialty retailer’s stock worth $249,000 after purchasing an additional 100 shares in the last quarter. Legal & General Group Plc increased its position in shares of MarineMax by 0.3% during the 1st quarter. Legal & General Group Plc now owns 40,772 shares of the specialty retailer’s stock worth $882,000 after purchasing an additional 105 shares in the last quarter. Texas Permanent School Fund increased its position in shares of MarineMax by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 17,779 shares of the specialty retailer’s stock worth $348,000 after purchasing an additional 205 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of MarineMax by 2.8% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the specialty retailer’s stock worth $192,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.
MarineMax (NYSE:HZO) traded up 2.14% during midday trading on Wednesday, hitting $16.70. 65,450 shares of the stock traded hands. MarineMax has a 1-year low of $13.80 and a 1-year high of $23.65. The stock has a market cap of $405.41 million, a PE ratio of 16.70 and a beta of 0.97. The company has a 50-day moving average of $16.19 and a 200-day moving average of $17.91.
MarineMax (NYSE:HZO) last announced its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.11). MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The business had revenue of $329.80 million during the quarter, compared to analyst estimates of $383.01 million. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, equities analysts expect that MarineMax will post $0.91 EPS for the current fiscal year.
MarineMax announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 2nd that permits the company to buyback 2,000,000 shares. This buyback authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
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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