MarineMax, Inc. (NYSE:HZO) Given Consensus Rating of “Moderate Buy” by Brokerages

MarineMax, Inc. (NYSE:HZO) has earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $30.80.

Several research analysts have commented on the stock. Zacks Research upgraded shares of MarineMax from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MarineMax in a report on Thursday, January 22nd. Citigroup reiterated a “buy” rating on shares of MarineMax in a research note on Wednesday, January 14th. National Bank Financial set a $35.00 price target on MarineMax in a report on Friday, January 30th. Finally, B. Riley Financial restated a “buy” rating and set a $29.00 price objective (up from $27.00) on shares of MarineMax in a research report on Friday, January 30th.

Institutional Investors Weigh In On MarineMax

A number of hedge funds have recently made changes to their positions in HZO. Nisa Investment Advisors LLC lifted its stake in MarineMax by 54.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,056 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 374 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of MarineMax by 52.7% during the second quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the specialty retailer’s stock worth $34,000 after buying an additional 466 shares during the last quarter. MTM Investment Management LLC acquired a new position in shares of MarineMax during the second quarter worth $42,000. Russell Investments Group Ltd. increased its holdings in shares of MarineMax by 93.5% during the third quarter. Russell Investments Group Ltd. now owns 1,672 shares of the specialty retailer’s stock worth $42,000 after buying an additional 808 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in shares of MarineMax by 12.8% in the 2nd 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 acquiring an additional 567 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors and hedge funds.

MarineMax Trading Up 2.6%

Shares of MarineMax stock opened at $26.10 on Friday. The company has a quick ratio of 0.29, a current ratio of 1.19 and a debt-to-equity ratio of 0.37. MarineMax has a 12-month low of $16.85 and a 12-month high of $32.00. The company has a market capitalization of $574.87 million, a price-to-earnings ratio of -9.74 and a beta of 1.66. The firm’s 50-day moving average price is $28.32 and its two-hundred day moving average price is $26.15.

MarineMax (NYSE:HZO) last issued its earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The firm had revenue of $505.18 million during 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, analysts forecast that MarineMax will post 2.41 earnings per share for the current fiscal year.

MarineMax declared that its Board of Directors has approved a stock buyback program on Wednesday, March 4th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the specialty retailer to reacquire up to 15.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.