MarineMax (NYSE:HZO) Given New $35.00 Price Target at Truist Financial

MarineMax (NYSE:HZO) had its target price cut by Truist Financial from $40.00 to $35.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

A number of other analysts have also recently commented on the stock. DA Davidson reiterated a buy rating and issued a $34.00 target price on shares of MarineMax in a research note on Friday, March 15th. StockNews.com downgraded shares of MarineMax from a hold rating to a sell rating in a research note on Saturday, January 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, MarineMax has a consensus rating of Moderate Buy and a consensus target price of $36.75.

MarineMax Price Performance

NYSE HZO opened at $26.06 on Friday. The firm’s fifty day simple moving average is $30.09 and its two-hundred day simple moving average is $31.40. The firm has a market capitalization of $581.14 million, a P/E ratio of 9.44 and a beta of 1.69. The company has a current ratio of 1.24, a quick ratio of 0.34 and a debt-to-equity ratio of 0.40. MarineMax has a 12-month low of $22.51 and a 12-month high of $42.88.

MarineMax (NYSE:HZO) last announced its earnings results 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). The business had revenue of $582.90 million for the quarter, compared to analysts’ expectations of $590.19 million. MarineMax had a return on equity of 7.66% and a net margin of 2.56%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 earnings per share. Analysts forecast that MarineMax will post 3.09 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of MarineMax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HZO. Fifth Third Bancorp boosted its stake in shares of MarineMax by 442.3% during the 3rd quarter. Fifth Third Bancorp now owns 770 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 628 shares in the last quarter. Spire Wealth Management grew its holdings in MarineMax by 58.3% in the third quarter. Spire Wealth Management now owns 1,496 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 551 shares during the period. Bfsg LLC purchased a new stake in shares of MarineMax in the fourth quarter valued at approximately $133,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MarineMax by 25.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the specialty retailer’s stock worth $135,000 after buying an additional 696 shares during the period. Finally, Arizona State Retirement System purchased a new position in shares of MarineMax during the 4th quarter valued at approximately $214,000. Institutional investors and hedge funds own 92.85% of the company’s stock.

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.