Stifel Nicolaus Lowers MarineMax (NYSE:HZO) Price Target to $35.00

MarineMax (NYSE:HZO) had its target price cut by Stifel Nicolaus from $37.00 to $35.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

A number of other research firms have also commented on HZO. Truist Financial lowered their target price on shares of MarineMax from $40.00 to $35.00 and set a buy rating for the company in a report on Friday. DA Davidson reaffirmed a buy rating and set a $34.00 target price on shares of MarineMax in a report on Friday, March 15th. Finally, StockNews.com lowered shares of MarineMax from a hold rating to a sell rating in a report on Saturday, January 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $35.40.

MarineMax Stock Performance

HZO stock opened at $25.38 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.24 and a quick ratio of 0.35. The company has a 50 day moving average price of $30.20 and a 200 day moving average price of $31.44. MarineMax has a fifty-two week low of $22.51 and a fifty-two week high of $42.88. The stock has a market capitalization of $565.97 million, a PE ratio of 9.20 and a beta of 1.69.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.55). MarineMax had a return on equity of 7.66% and a net margin of 2.56%. The company had revenue of $582.90 million during the quarter, compared to the consensus estimate of $590.19 million. During the same quarter last year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that MarineMax will post 3.09 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Charles A. Cashman sold 7,500 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total transaction of $223,200.00. Following the completion of the transaction, the executive vice president now owns 63,981 shares of the company’s stock, valued at $1,904,074.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction on Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction of $124,480.00. Following the completion of the transaction, the director now owns 20,544 shares of the company’s stock, valued at $639,329.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles A. Cashman sold 7,500 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $29.76, for a total transaction of $223,200.00. Following the completion of the sale, the executive vice president now owns 63,981 shares of the company’s stock, valued at $1,904,074.56. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of MarineMax by 50.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 84,967 shares of the specialty retailer’s stock valued at $3,305,000 after buying an additional 28,467 shares during the last quarter. Broad Bay Capital Management LP grew its holdings in shares of MarineMax by 34.1% during the fourth quarter. Broad Bay Capital Management LP now owns 704,034 shares of the specialty retailer’s stock valued at $27,387,000 after buying an additional 179,034 shares during the last quarter. Premier Fund Managers Ltd acquired a new position in shares of MarineMax during the fourth quarter valued at about $596,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of MarineMax during the fourth quarter valued at about $959,000. Finally, Crestline Management LP grew its holdings in shares of MarineMax by 6.5% during the fourth quarter. Crestline Management LP now owns 26,634 shares of the specialty retailer’s stock valued at $1,036,000 after buying an additional 1,634 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors and hedge funds.

About MarineMax

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.