MarineMax (NYSE:HZO) Shares Up 8.7% – What’s Next?

MarineMax, Inc. (NYSE:HZO) shot up 8.7% during trading on Monday . The stock traded as high as $26.76 and last traded at $26.85. 31,390 shares were traded during trading, a decline of 93% from the average session volume of 461,852 shares. The stock had previously closed at $24.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Loop Capital began coverage on shares of MarineMax in a report on Monday, December 22nd. They issued a “buy” rating and a $29.00 price objective for the company. B. Riley Financial reaffirmed a “buy” rating and set a $29.00 target price (up from $27.00) on shares of MarineMax in a research note on Friday, January 30th. Zacks Research upgraded shares of MarineMax from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of MarineMax in a research note on Thursday, January 22nd. Finally, Benchmark reaffirmed a “buy” rating on shares of MarineMax in a research report on Friday, January 30th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.80.

MarineMax Stock Performance

The firm’s fifty day moving average is $28.20 and its 200-day moving average is $26.15. The company has a current ratio of 1.19, a quick ratio of 0.29 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $582.01 million, a PE ratio of -9.85 and a beta of 1.66.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). The company had revenue of $505.18 million for the quarter, compared to analyst estimates of $481.67 million. MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. MarineMax’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. As a group, research analysts anticipate that MarineMax, Inc. will post 2.41 earnings per share for the current year.

MarineMax declared that its board has approved a stock repurchase program on Wednesday, March 4th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the specialty retailer to purchase up to 15.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On MarineMax

A number of hedge funds and other institutional investors have recently bought and sold shares of HZO. Nisa Investment Advisors LLC increased its stake in MarineMax by 54.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,056 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 374 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of MarineMax by 52.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the specialty retailer’s stock valued at $34,000 after purchasing an additional 466 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of MarineMax by 93.5% in the third quarter. Russell Investments Group Ltd. now owns 1,672 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 808 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of MarineMax by 12.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,008 shares of the specialty retailer’s stock valued at $126,000 after purchasing an additional 567 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MarineMax by 129.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,313 shares of the specialty retailer’s stock worth $135,000 after buying an additional 2,996 shares during the period. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

MarineMax Company Profile

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.