MarineMax (NYSE:HZO) Reaches New 12-Month Low at $34.54

Shares of MarineMax, Inc. (NYSE:HZOGet Rating) reached a new 52-week low during trading on Tuesday . The company traded as low as $34.54 and last traded at $34.64, with a volume of 1923 shares traded. The stock had previously closed at $35.31.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Northcoast Research reaffirmed a “buy” rating on shares of MarineMax in a research note on Tuesday, May 17th. B. Riley cut shares of MarineMax from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $84.00 to $44.00 in a research note on Tuesday, June 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.60.

MarineMax Stock Performance

The firm’s 50-day moving average price is $39.48 and its two-hundred day moving average price is $40.86. The firm has a market capitalization of $750.24 million, a PE ratio of 4.06 and a beta of 1.63. The company has a quick ratio of 0.88, a current ratio of 1.78 and a debt-to-equity ratio of 0.06.

MarineMax (NYSE:HZOGet Rating) last released its earnings results on Thursday, July 28th. The specialty retailer reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.09. The business had revenue of $688.50 million for the quarter, compared to the consensus estimate of $768.21 million. MarineMax had a net margin of 8.62% and a return on equity of 29.10%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $2.59 earnings per share. As a group, research analysts predict that MarineMax, Inc. will post 8.29 earnings per share for the current fiscal year.

Insider Activity at MarineMax

In related news, Director Hilliard M. Eure sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $40.75, for a total transaction of $122,250.00. Following the transaction, the director now directly owns 17,990 shares of the company’s stock, valued at $733,092.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Hilliard M. Eure sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $40.75, for a total transaction of $122,250.00. Following the transaction, the director now directly owns 17,990 shares of the company’s stock, valued at $733,092.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Allen Watters sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $42.45, for a total transaction of $424,500.00. Following the transaction, the director now directly owns 89,410 shares in the company, valued at $3,795,454.50. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Trading of MarineMax

Institutional investors have recently added to or reduced their stakes in the business. James Investment Research Inc. lifted its stake in MarineMax by 56.0% in the first quarter. James Investment Research Inc. now owns 43,168 shares of the specialty retailer’s stock valued at $1,738,000 after acquiring an additional 15,493 shares during the last quarter. Raymond James & Associates lifted its stake in MarineMax by 0.9% in the fourth quarter. Raymond James & Associates now owns 79,439 shares of the specialty retailer’s stock valued at $4,690,000 after acquiring an additional 687 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in MarineMax in the first quarter valued at approximately $851,000. Kendall Capital Management lifted its stake in MarineMax by 13.9% in the first quarter. Kendall Capital Management now owns 23,780 shares of the specialty retailer’s stock valued at $957,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Summit Global Investments lifted its stake in MarineMax by 120.6% in the first quarter. Summit Global Investments now owns 31,765 shares of the specialty retailer’s stock valued at $1,279,000 after acquiring an additional 17,365 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

About MarineMax

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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.

Further Reading

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