MarineMax, Inc. (HZO) Coverage Initiated by Analysts at CL King
Other research analysts have also recently issued reports about the company. B. Riley reissued a buy rating and issued a $20.00 target price on shares of MarineMax in a research report on Friday, July 21st. Ifs Securities reissued a strong-buy rating and issued a $20.00 target price on shares of MarineMax in a research report on Thursday, August 24th. TheStreet cut MarineMax from a b rating to a c+ rating in a research report on Wednesday, July 26th. Forward View cut MarineMax from a buy rating to a hold rating in a research report on Monday, October 30th. Finally, Craig Hallum set a $21.00 target price on MarineMax and gave the stock a buy rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $21.67.
Shares of MarineMax (NYSE HZO) traded down $0.50 during trading hours on Monday, reaching $19.80. The company’s stock had a trading volume of 232,900 shares, compared to its average volume of 307,545. The stock has a market capitalization of $481.83, a PE ratio of 20.10, a price-to-earnings-growth ratio of 0.58 and a beta of 0.99. MarineMax has a fifty-two week low of $13.80 and a fifty-two week high of $23.65.
MarineMax (NYSE:HZO) last announced its earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.11. The business had revenue of $250.62 million for the quarter, compared to analysts’ expectations of $231.96 million. MarineMax had a return on equity of 7.82% and a net margin of 2.24%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. equities analysts expect that MarineMax will post 1.16 earnings per share for the current year.
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MarineMax declared that its board has authorized a share buyback plan on Wednesday, August 2nd that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, VP Michael H. Mclamb sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.10, for a total value of $211,000.00. Following the transaction, the vice president now directly owns 21,500 shares of the company’s stock, valued at approximately $453,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman William H. Mcgill, Jr. sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.03, for a total value of $736,050.00. Following the completion of the transaction, the chairman now directly owns 281,640 shares in the company, valued at $5,922,889.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,500 shares of company stock worth $1,114,550. Insiders own 5.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of HZO. BNP Paribas Arbitrage SA lifted its holdings in MarineMax by 58.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,348 shares of the specialty retailer’s stock worth $144,000 after purchasing an additional 2,699 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in MarineMax in the 3rd quarter worth approximately $182,000. UBS Group AG lifted its holdings in MarineMax by 175.7% in the 1st quarter. UBS Group AG now owns 9,697 shares of the specialty retailer’s stock worth $210,000 after purchasing an additional 6,180 shares in the last quarter. CAPROCK Group Inc. purchased a new position in MarineMax in the 3rd quarter worth approximately $213,000. Finally, Crossmark Global Holdings Inc. purchased a new position in MarineMax in the 3rd quarter worth approximately $232,000. 90.57% of the stock is currently owned by 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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