MarineMax, Inc. (HZO) Trading Up -2.5%
MarineMax, Inc. (NYSE:HZO)’s share price was up 2.5% on Tuesday . The company traded as high as $21.00 and last traded at $19.80. Approximately 232,900 shares changed hands during trading, a decline of 24% from the average daily volume of 307,545 shares. The stock had previously closed at $20.30.
A number of equities analysts recently weighed in on HZO shares. B. Riley reaffirmed a “buy” rating and set a $20.00 price objective on shares of MarineMax in a research report on Friday, July 21st. BidaskClub cut shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. TheStreet cut shares of MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Ifs Securities reaffirmed a “strong-buy” rating and set a $20.00 price objective on shares of MarineMax in a research report on Thursday, August 24th. Finally, Citigroup Inc. increased their price objective on shares of MarineMax from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $21.67.
The firm has a market capitalization of $481.83, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 0.58 and a beta of 0.99.
MarineMax (NYSE:HZO) last announced its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.11. MarineMax had a net margin of 2.24% and a return on equity of 7.82%. The business had revenue of $250.62 million for the quarter, compared to analyst estimates of $231.96 million. During the same period last year, the business earned $0.18 EPS. The company’s revenue was up 10.2% on a year-over-year basis. sell-side analysts anticipate that MarineMax, Inc. will post 1.16 earnings per share for the current year.
MarineMax announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 2nd that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, Chairman William H. Mcgill, Jr. sold 35,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $21.03, for a total value of $736,050.00. Following the sale, the chairman now directly owns 281,640 shares in the company, valued at approximately $5,922,889.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dean S. Woodman sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 24th. 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 14,693 shares in the company, valued at $235,088. The disclosure for this sale can be found here. Insiders sold a total of 55,500 shares of company stock worth $1,114,550 over the last 90 days. Company insiders own 5.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in MarineMax by 61.7% during 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. Eagle Asset Management Inc. raised its stake in MarineMax by 4.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 3,330,527 shares of the specialty retailer’s stock worth $65,111,000 after acquiring an additional 146,127 shares in the last quarter. Kennedy Capital Management Inc. raised its stake in MarineMax by 855.1% during the 2nd quarter. Kennedy Capital Management Inc. now owns 331,000 shares of the specialty retailer’s stock worth $6,471,000 after acquiring an additional 296,343 shares in the last quarter. Impala Asset Management LLC raised its stake in MarineMax by 18.6% during the 2nd quarter. Impala Asset Management LLC now owns 1,795,759 shares of the specialty retailer’s stock worth $35,107,000 after acquiring an additional 282,017 shares in the last quarter. Finally, PDT Partners LLC acquired a new stake in MarineMax during the 2nd quarter worth $1,922,000. Institutional investors and hedge funds own 90.57% of the company’s stock.
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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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