MarineMax (NYSE:HZO) Receives New Coverage from Analysts at Benchmark

Research analysts at Benchmark started coverage on shares of MarineMax (NYSE:HZO) in a research note issued on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $40.00 price target on the specialty retailer’s stock. Benchmark’s price objective would suggest a potential upside of 22.62% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Truist Financial boosted their target price on shares of MarineMax from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Citigroup raised MarineMax from a “neutral” rating to a “buy” rating and raised their target price for the stock from $40.00 to $44.00 in a research report on Monday, September 9th. Stifel Nicolaus upped their price target on MarineMax from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 12th. StockNews.com lowered MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, September 3rd. Finally, B. Riley dropped their price objective on shares of MarineMax from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat, MarineMax presently has an average rating of “Moderate Buy” and an average target price of $41.83.

MarineMax Price Performance

Shares of NYSE:HZO opened at $32.62 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.36 and a debt-to-equity ratio of 0.37. The stock has a market cap of $727.46 million, a PE ratio of 11.82 and a beta of 1.82. The stock’s fifty day simple moving average is $31.96 and its two-hundred day simple moving average is $31.03. MarineMax has a 1-year low of $22.51 and a 1-year high of $39.85.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $1.51 EPS for the quarter, beating the consensus estimate of $1.35 by $0.16. MarineMax had a net margin of 2.00% and a return on equity of 6.26%. The firm had revenue of $757.72 million during the quarter, compared to analyst estimates of $720.30 million. During the same quarter last year, the business posted $2.07 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts forecast that MarineMax will post 2.28 EPS for the current fiscal year.

Institutional Trading of MarineMax

A number of institutional investors have recently added to or reduced their stakes in HZO. Bfsg LLC increased its position in shares of MarineMax by 19.1% during the third quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock valued at $150,000 after buying an additional 681 shares during the period. Exchange Traded Concepts LLC purchased a new position in MarineMax during the third quarter valued at approximately $301,000. Shellback Capital LP increased its holdings in MarineMax by 44.1% during the 2nd quarter. Shellback Capital LP now owns 295,633 shares of the specialty retailer’s stock worth $9,570,000 after acquiring an additional 90,476 shares during the period. The Manufacturers Life Insurance Company increased its holdings in MarineMax by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer’s stock worth $267,000 after acquiring an additional 408 shares during the period. Finally, Millennium Management LLC lifted its stake in MarineMax by 22.7% in the 2nd quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock worth $13,012,000 after purchasing an additional 74,451 shares in the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

MarineMax Company Profile

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.