Stifel Nicolaus Cuts MarineMax (NYSE:HZO) Price Target to $35.00

MarineMax (NYSE:HZO) had its price objective reduced by Stifel Nicolaus from $37.00 to $35.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

A number of other brokerages have also recently issued reports on HZO. DA Davidson restated a buy rating and issued a $34.00 target price on shares of MarineMax in a report on Friday, March 15th. StockNews.com downgraded MarineMax from a hold rating to a sell rating in a report on Saturday, January 27th. Finally, Truist Financial lowered their price target on MarineMax from $40.00 to $35.00 and set a buy rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, MarineMax presently has a consensus rating of Moderate Buy and an average target price of $36.75.

MarineMax Stock Performance

Shares of NYSE HZO opened at $25.37 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.24 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $565.75 million, a price-to-earnings ratio of 9.19 and a beta of 1.69. The stock’s fifty day simple moving average is $30.20 and its 200 day simple moving average is $31.43. MarineMax has a 52-week low of $22.51 and a 52-week high of $42.88.

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

Insider Activity at MarineMax

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

Institutional Trading of MarineMax

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its stake in shares of MarineMax by 31.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 73,707 shares of the specialty retailer’s stock worth $2,419,000 after acquiring an additional 17,579 shares in the last quarter. Bfsg LLC bought a new stake in shares of MarineMax during the 4th quarter worth about $133,000. Jump Financial LLC boosted its stake in shares of MarineMax by 101.8% during the 3rd quarter. Jump Financial LLC now owns 33,507 shares of the specialty retailer’s stock worth $1,100,000 after acquiring an additional 16,907 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of MarineMax by 438.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,500 shares of the specialty retailer’s stock worth $1,854,000 after acquiring an additional 46,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of MarineMax by 7.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 424,845 shares of the specialty retailer’s stock worth $13,943,000 after acquiring an additional 28,539 shares in the last quarter. Institutional investors and hedge funds 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.