MarineMax (NYSE:HZO) Reaches New 12-Month High – Should You Buy?

MarineMax, Inc. (NYSE:HZO) hit a new 52-week high on Thursday . The company traded as high as $34.43 and last traded at $34.1350, with a volume of 30951 shares traded. The stock had previously closed at $33.35.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HZO. Weiss Ratings raised MarineMax from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday. Zacks Research raised MarineMax from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. B. Riley Financial reissued a “buy” rating on shares of MarineMax in a research report on Friday, April 24th. Truist Financial set a $34.00 price target on MarineMax in a research report on Tuesday, April 21st. Finally, Benchmark reissued a “buy” rating on shares of MarineMax in a research report on Friday, January 30th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, MarineMax has an average rating of “Moderate Buy” and an average target price of $31.80.

MarineMax Stock Up 2.2%

The firm has a 50 day simple moving average of $28.33 and a two-hundred day simple moving average of $26.90. The company has a quick ratio of 0.32, a current ratio of 1.18 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $751.04 million, a P/E ratio of -11.59 and a beta of 1.55.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, April 23rd. The specialty retailer reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.07. MarineMax had a positive return on equity of 0.68% and a negative net margin of 2.83%.The firm had revenue of $527.41 million during the quarter, compared to analysts’ expectations of $617.21 million. During the same period in the prior year, the company earned $0.23 earnings per share. The company’s quarterly revenue was down 16.5% on a year-over-year basis. MarineMax has set its FY 2026 guidance at 0.400-0.950 EPS. On average, equities research analysts expect that MarineMax, Inc. will post 0.74 earnings per share for the current year.

MarineMax announced that its board has authorized a stock repurchase program on Wednesday, March 4th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the specialty retailer to repurchase up to 15.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On MarineMax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank lifted its stake in MarineMax by 4.0% during the first quarter. Swiss National Bank now owns 38,900 shares of the specialty retailer’s stock worth $1,053,000 after purchasing an additional 1,500 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of MarineMax by 857,142.9% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 180,021 shares of the specialty retailer’s stock valued at $4,871,000 after acquiring an additional 180,000 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of MarineMax by 5,419.5% in the 1st quarter. Bessemer Group Inc. now owns 6,789 shares of the specialty retailer’s stock valued at $184,000 after acquiring an additional 6,666 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of MarineMax by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 117,916 shares of the specialty retailer’s stock valued at $3,191,000 after purchasing an additional 2,933 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of MarineMax by 16.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 10,913 shares of the specialty retailer’s stock valued at $295,000 after purchasing an additional 1,546 shares during the period. 92.85% of the stock is currently owned by institutional investors.

About MarineMax

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.