MarineMax (NYSE:HZO) Sets New 1-Year High – Should You Buy?

MarineMax, Inc. (NYSE:HZO) shares reached a new 52-week high on Friday. The company traded as high as $52.76 and last traded at $52.65, with a volume of 987,612 shares changing hands. The stock had previously closed at $52.59.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HZO. B. Riley Financial downgraded MarineMax from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Tuesday, July 21st. Citigroup lowered MarineMax from a “buy” rating to a “neutral” rating and boosted their target price for the company from $41.00 to $53.00 in a research note on Friday, October 2nd. Loop Capital lowered shares of MarineMax from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a research report on Tuesday, August 11th. Weiss Ratings raised MarineMax from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Benchmark lowered shares of MarineMax from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. Eight analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $44.67.

MarineMax Stock Up 0.1%

The firm’s 50-day moving average price is $52.34 and its 200 day moving average price is $37.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.23 and a quick ratio of 0.34. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 376.07 and a beta of 1.70.

Institutional Investors Weigh In On MarineMax

Several hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC acquired a new stake in shares of MarineMax during the third quarter worth approximately $511,000. Vise Technologies Inc. bought a new stake in shares of MarineMax in the third quarter valued at about $367,000. Yousif Capital Management LLC bought a new stake in MarineMax in the 3rd quarter valued at $260,000. Nisa Investment Advisors LLC raised its holdings in shares of MarineMax by 42.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,754 shares of the specialty retailer’s stock worth $92,000 after buying an additional 519 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of MarineMax by 29.1% in the third quarter. GAMMA Investing LLC now owns 2,505 shares of the specialty retailer’s stock valued at $131,000 after acquiring an additional 564 shares during the last quarter. 92.85% of the stock is owned by hedge funds and other institutional investors.

MarineMax Company Profile

MarineMax, Inc is a recreational boat and yacht retailer based in Clearwater, Florida. The company sells new and pre-owned powerboats, sailboats, yachts and related marine products through a network of dealerships and brokerage operations.

In addition to boat sales, MarineMax provides maintenance, repair, storage, parts and other marina services. It also offers financing and insurance products through third-party relationships, as well as charter, yacht-management and boating-lifestyle services through its affiliated businesses.

MarineMax serves customers primarily in the United States, with operations concentrated in boating markets including Florida, the Northeast, the Midwest and other coastal and inland regions.