MarineMax (NYSE:HZO) Price Target Lowered to $35.00 at Truist Financial

MarineMax (NYSE:HZO) had its price objective reduced by research analysts at Truist Financial from $40.00 to $35.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price target would indicate a potential upside of 37.96% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. DA Davidson reiterated a “buy” rating and issued a $34.00 price objective on shares of MarineMax in a report on Friday, March 15th. StockNews.com cut MarineMax from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, MarineMax has an average rating of “Moderate Buy” and a consensus target price of $35.40.

MarineMax Trading Down 0.9 %

Shares of HZO stock opened at $25.37 on Friday. The stock has a market capitalization of $565.75 million, a PE ratio of 9.19 and a beta of 1.69. MarineMax has a 1-year low of $22.51 and a 1-year high of $42.88. The business has a 50-day moving average of $30.20 and a 200 day moving average of $31.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.24 and a quick ratio of 0.35.

MarineMax (NYSE:HZO) last released its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.55). MarineMax had a return on equity of 7.66% and a net margin of 2.56%. The business had revenue of $582.90 million during the quarter, compared to analysts’ expectations of $590.19 million. During the same quarter last year, the business posted $1.23 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that MarineMax will post 3.09 earnings per share for the current year.

Insider Activity

In other news, Director Clint Moore sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $31.12, for a total value of $124,480.00. Following the completion of the transaction, the director now owns 20,544 shares in the company, valued at approximately $639,329.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Clint Moore sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $31.12, for a total transaction of $124,480.00. Following the completion of the transaction, the director now owns 20,544 shares of the company’s stock, valued at approximately $639,329.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Charles A. Cashman sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total value of $223,200.00. Following the transaction, the executive vice president now directly owns 63,981 shares of the company’s stock, valued at approximately $1,904,074.56. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its position in MarineMax by 442.3% during the 3rd quarter. Fifth Third Bancorp now owns 770 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 628 shares in the last quarter. Spire Wealth Management increased its holdings in shares of MarineMax by 58.3% in the 3rd quarter. Spire Wealth Management now owns 1,496 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 551 shares in the last quarter. Bfsg LLC bought a new stake in shares of MarineMax in the 4th quarter worth $133,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of MarineMax by 25.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the specialty retailer’s stock worth $135,000 after purchasing an additional 696 shares in the last quarter. Finally, Arizona State Retirement System bought a new stake in shares of MarineMax in the 4th quarter worth $214,000. 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.