MarineMax (NYSE:HZO) Upgraded to “Strong-Buy” at Zacks Investment Research

MarineMax (NYSE:HZOGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage currently has a $47.00 target price on the specialty retailer’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.06% from the stock’s current price.

According to Zacks, “MarineMax, Inc. is the nation’s largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Galeon, Grady-White, Harris, Crest, Scout, Sailfish, Sea Pro, Scarab Jet Boats, Aquila, and Nautique, MarineMax sells new and used recreational boats and related marine products and services as well as provides yacht brokerage and charter services. MarineMax currently has 62 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands. “

Several other analysts have also commented on HZO. Citigroup decreased their price target on shares of MarineMax from $52.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, April 19th. StockNews.com started coverage on shares of MarineMax in a research report on Thursday, March 31st. They set a “buy” rating for the company. Raymond James increased their price target on shares of MarineMax from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, January 28th. B. Riley increased their price target on shares of MarineMax from $75.00 to $84.00 in a research report on Friday, January 28th. Finally, Truist Financial decreased their price objective on shares of MarineMax from $62.00 to $54.00 in a research report on Wednesday, January 26th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $57.50.

Shares of MarineMax stock opened at $41.57 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.57 and a quick ratio of 0.72. MarineMax has a 1 year low of $35.60 and a 1 year high of $70.89. The firm’s 50-day moving average is $42.35 and its two-hundred day moving average is $48.79. The stock has a market cap of $911.17 million, a price-to-earnings ratio of 5.20 and a beta of 1.73.

MarineMax (NYSE:HZOGet Rating) last issued its earnings results on Thursday, April 28th. The specialty retailer reported $2.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.59. MarineMax had a net margin of 8.23% and a return on equity of 30.30%. The company had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $541.34 million. During the same period in the prior year, the business earned $1.69 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts expect that MarineMax will post 8.25 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Addison Advisors LLC acquired a new position in MarineMax in the 4th quarter worth approximately $30,000. Manchester Capital Management LLC acquired a new position in MarineMax in the 3rd quarter worth approximately $25,000. Point72 Hong Kong Ltd increased its holdings in MarineMax by 191.8% in the 4th quarter. Point72 Hong Kong Ltd now owns 642 shares of the specialty retailer’s stock worth $38,000 after buying an additional 422 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in MarineMax by 91.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,341 shares of the specialty retailer’s stock worth $54,000 after buying an additional 641 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in MarineMax in the 3rd quarter worth approximately $66,000. 97.68% of the stock is owned by hedge funds and other institutional investors.

MarineMax Company Profile (Get Rating)

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates through 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, pontoon boats, ski boats, jet boats, and other recreational boats.

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