MarineMax (NYSE:HZO) to Buyback $100.00 million in Shares

MarineMax (NYSE:HZO) declared that its board has authorized a stock buyback program on Wednesday, March 4th, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization allows the specialty retailer to buy up to 15.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on HZO shares. Loop Capital initiated coverage on MarineMax in a report on Monday, December 22nd. They issued a “buy” rating and a $29.00 price objective for the company. 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. Benchmark restated a “buy” rating on shares of MarineMax in a research report on Friday, January 30th. Finally, Wall Street Zen raised shares of MarineMax from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.80.

MarineMax Stock Down 0.3%

Shares of HZO traded down $0.08 during midday trading on Wednesday, hitting $29.65. 447,989 shares of the company’s stock traded hands, compared to its average volume of 502,300. 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 $653.19 million, a price-to-earnings ratio of -11.06 and a beta of 1.66. MarineMax has a 1 year low of $16.85 and a 1 year high of $32.00. The firm’s fifty day moving average is $27.95 and its 200-day moving average is $26.17.

MarineMax (NYSE:HZO) last announced its earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The business 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%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 earnings per share. As a group, sell-side analysts anticipate that MarineMax will post 2.41 earnings per share for the current year.

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.