Brokerages Set MarineMax, Inc. (NYSE:HZO) Price Target at $38.50

MarineMax, Inc. (NYSE:HZO) has been given a consensus rating of “Buy” by the six brokerages that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $38.50.

HZO has been the subject of a number of research analyst reports. StockNews.com raised MarineMax from a “sell” rating to a “hold” rating in a report on Friday, January 24th. DA Davidson cut their price objective on MarineMax from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. B. Riley raised MarineMax to a “strong-buy” rating in a report on Wednesday, February 12th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of MarineMax in a report on Friday, January 24th. Finally, Truist Financial cut their price objective on MarineMax from $38.00 to $26.00 and set a “buy” rating for the company in a report on Monday, April 14th.

MarineMax Stock Down 0.9%

Shares of NYSE:HZO opened at $23.23 on Friday. The stock has a fifty day simple moving average of $21.42 and a two-hundred day simple moving average of $26.38. The stock has a market capitalization of $498.82 million, a price-to-earnings ratio of 9.76 and a beta of 1.69. MarineMax has a 12-month low of $16.85 and a 12-month high of $38.20. The company has a current ratio of 1.19, a quick ratio of 0.24 and a debt-to-equity ratio of 0.35.

MarineMax (NYSE:HZO) last announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. The business had revenue of $631.52 million during the quarter, compared to analysts’ expectations of $580.12 million. MarineMax had a return on equity of 4.96% and a net margin of 2.33%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. On average, research analysts anticipate that MarineMax will post 2.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarineMax

Several large investors have recently made changes to their positions in the business. State of Wyoming purchased a new stake in shares of MarineMax in the first quarter worth about $41,000. Smartleaf Asset Management LLC lifted its position in shares of MarineMax by 211.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,558 shares of the specialty retailer’s stock worth $43,000 after buying an additional 1,058 shares in the last quarter. US Bancorp DE lifted its position in shares of MarineMax by 49.6% in the fourth quarter. US Bancorp DE now owns 1,764 shares of the specialty retailer’s stock worth $51,000 after buying an additional 585 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of MarineMax in the fourth quarter worth about $82,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of MarineMax in the fourth quarter worth about $113,000. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

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.