MarineMax (NYSE:HZO) Trading Up 10.2% – Still a Buy?

Shares of MarineMax, Inc. (NYSE:HZO) shot up 10.2% on Monday . The company traded as high as $33.68 and last traded at $33.68. 137,234 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 301,654 shares. The stock had previously closed at $30.56.

Analyst Ratings Changes

Several research analysts have commented on HZO shares. Benchmark began coverage on MarineMax in a research note on Tuesday, October 15th. They set a “buy” rating and a $40.00 target price for the company. StockNews.com downgraded shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, September 3rd. Finally, Citigroup upgraded shares of MarineMax from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $44.00 in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Price Performance

The stock has a market cap of $734.63 million, a P/E ratio of 19.71 and a beta of 1.85. The company’s 50 day moving average price is $31.59 and its 200-day moving average price is $31.68. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

MarineMax (NYSE:HZO) last announced its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.06. The business had revenue of $563.10 million during the quarter, compared to analyst estimates of $576.49 million. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. MarineMax’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. As a group, sell-side analysts expect that MarineMax, Inc. will post 2.33 earnings per share for the current year.

Institutional Trading of MarineMax

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in MarineMax by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock worth $46,767,000 after purchasing an additional 110,601 shares during the period. Victory Capital Management Inc. increased its position in MarineMax by 134.3% in the 3rd quarter. Victory Capital Management Inc. now owns 129,416 shares of the specialty retailer’s stock valued at $4,565,000 after buying an additional 74,173 shares in the last quarter. Millennium Management LLC raised its stake in MarineMax by 22.7% during the 2nd quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock worth $13,012,000 after buying an additional 74,451 shares during the period. Algert Global LLC bought a new position in MarineMax in the third quarter worth approximately $4,949,000. Finally, Assenagon Asset Management S.A. grew its stake in MarineMax by 342.7% in the second quarter. Assenagon Asset Management S.A. now owns 29,785 shares of the specialty retailer’s stock valued at $964,000 after acquiring an additional 23,057 shares during the period. 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.