MarineMax (NYSE:HZO) Given New $35.00 Price Target at Stifel Nicolaus

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

Several other equities analysts also recently weighed in on the company. StockNews.com downgraded MarineMax from a hold rating to a sell rating in a research report on Saturday, January 27th. DA Davidson reissued a buy rating and set a $34.00 price target on shares of MarineMax in a research report on Friday, March 15th. Finally, Truist Financial dropped their price target on MarineMax from $40.00 to $35.00 and set a buy rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, MarineMax has an average rating of Moderate Buy and a consensus target price of $35.40.

MarineMax Stock Performance

NYSE HZO opened at $25.38 on Friday. MarineMax has a 1-year low of $22.51 and a 1-year high of $42.88. The company has a market capitalization of $565.97 million, a P/E ratio of 9.20 and a beta of 1.69. The business has a 50 day moving average price of $30.20 and a 200 day moving average price of $31.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.24 and a quick ratio of 0.35.

MarineMax (NYSE:HZO) last released 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). The firm had revenue of $582.90 million during the quarter, compared to analysts’ expectations of $590.19 million. MarineMax had a net margin of 2.56% and a return on equity of 7.66%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 earnings per share. Sell-side analysts expect that MarineMax will post 3.09 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its stake in shares of MarineMax by 31.3% during the third quarter. Assenagon Asset Management S.A. now owns 73,707 shares of the specialty retailer’s stock worth $2,419,000 after purchasing an additional 17,579 shares in the last quarter. Bfsg LLC acquired a new position in shares of MarineMax during the fourth quarter worth about $133,000. Jump Financial LLC lifted its stake in shares of MarineMax by 101.8% during the third quarter. Jump Financial LLC now owns 33,507 shares of the specialty retailer’s stock worth $1,100,000 after purchasing an additional 16,907 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of MarineMax by 438.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,500 shares of the specialty retailer’s stock worth $1,854,000 after purchasing an additional 46,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of MarineMax by 7.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 424,845 shares of the specialty retailer’s stock worth $13,943,000 after purchasing an additional 28,539 shares in the last quarter. 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.