MarineMax (NYSE:HZO) PT Set at $23.00 by B. Riley

MarineMax (NYSE:HZO) received a $23.00 target price from B. Riley in a research note issued on Wednesday, TipRanks reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. B. Riley’s price objective would suggest a potential upside of 63.82% from the company’s current price.

A number of other brokerages have also commented on HZO. ValuEngine lowered shares of MarineMax from a “sell” rating to a “strong sell” rating in a research note on Monday, July 22nd. Northcoast Research reiterated a “buy” rating on shares of MarineMax in a research note on Friday, April 26th. Zacks Investment Research lowered shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Longbow Research decreased their price target on shares of MarineMax from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, Craig Hallum lowered shares of MarineMax from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. MarineMax presently has a consensus rating of “Hold” and an average target price of $23.17.

NYSE HZO traded down $0.66 on Wednesday, reaching $14.04. 56,714 shares of the stock traded hands, compared to its average volume of 287,468. The firm’s fifty day simple moving average is $15.58 and its 200 day simple moving average is $17.28. The company has a market cap of $387.84 million, a price-to-earnings ratio of 8.26 and a beta of 0.88. MarineMax has a 12 month low of $13.73 and a 12 month high of $26.11.

MarineMax (NYSE:HZO) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.07. The company had revenue of $383.50 million for the quarter, compared to analyst estimates of $391.48 million. MarineMax had a net margin of 3.30% and a return on equity of 10.94%. MarineMax’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 EPS. Research analysts predict that MarineMax will post 1.63 earnings per share for the current fiscal year.

In other MarineMax news, Director Dean S. Woodman sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $14.76, for a total transaction of $147,600.00. Following the transaction, the director now directly owns 30,100 shares of the company’s stock, valued at approximately $444,276. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in HZO. Magnetar Financial LLC bought a new stake in shares of MarineMax during the second quarter worth $849,000. Nuveen Asset Management LLC bought a new stake in shares of MarineMax during the second quarter worth $2,003,000. Victory Capital Management Inc. lifted its position in shares of MarineMax by 15.1% during the second quarter. Victory Capital Management Inc. now owns 136,248 shares of the specialty retailer’s stock worth $2,240,000 after purchasing an additional 17,895 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of MarineMax by 10.3% during the second quarter. Cubist Systematic Strategies LLC now owns 12,227 shares of the specialty retailer’s stock worth $201,000 after purchasing an additional 1,144 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of MarineMax by 34.4% during the second quarter. Invesco Ltd. now owns 274,206 shares of the specialty retailer’s stock worth $4,508,000 after purchasing an additional 70,203 shares during the last quarter. 89.95% of the stock is currently owned by hedge funds and other institutional investors.

About MarineMax

MarineMax, Inc operates as a recreational boat and yacht retailer in the United States. The company sells new and used recreational boats, including pleasure boats, such as sport boats, sport cruisers, sport yachts, and other yachts; fishing boats; motor and convertible yachts; pontoon boats; fishing boats; ski boats; and jet boats.

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Analyst Recommendations for MarineMax (NYSE:HZO)

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