MarineMax (NYSE:HZO) Upgraded at Zacks Research

Zacks Research upgraded shares of MarineMax (NYSE:HZO) from a strong sell rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other research firms have also commented on HZO. B. Riley reaffirmed a “buy” rating on shares of MarineMax in a research note on Friday, July 25th. Citigroup reissued a “buy” rating and set a $32.00 target price (up from $29.00) on shares of MarineMax in a research note on Monday, June 16th. Finally, Wall Street Zen lowered shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.25.

MarineMax Trading Down 0.5%

NYSE:HZO opened at $25.86 on Tuesday. The firm’s fifty day moving average is $25.23 and its 200-day moving average is $23.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.29 and a current ratio of 1.21. MarineMax has a 52 week low of $16.85 and a 52 week high of $36.38. The firm has a market cap of $554.96 million, a P/E ratio of -19.30 and a beta of 1.57.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.67). MarineMax had a negative net margin of 1.15% and a positive return on equity of 2.63%. The firm had revenue of $657.16 million during the quarter, compared to the consensus estimate of $737.82 million. During the same period in the prior year, the company posted $1.51 earnings per share. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. MarineMax has set its FY 2025 guidance at 0.450-0.950 EPS. Equities analysts expect that MarineMax will post 2.41 earnings per share for the current year.

Insider Transactions at MarineMax

In related news, CEO W Brett Mcgill sold 60,000 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $27.53, for a total transaction of $1,651,800.00. Following the transaction, the chief executive officer directly owned 173,038 shares of the company’s stock, valued at $4,763,736.14. This represents a 25.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in shares of MarineMax by 52.7% during the second quarter. PNC Financial Services Group Inc. now owns 1,351 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 466 shares during the last quarter. State of Wyoming acquired a new stake in shares of MarineMax in the 1st quarter worth about $41,000. MTM Investment Management LLC acquired a new stake in shares of MarineMax in the 2nd quarter worth about $42,000. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of MarineMax by 12.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,008 shares of the specialty retailer’s stock worth $126,000 after acquiring an additional 567 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in shares of MarineMax in the 1st quarter worth about $168,000. 92.85% of the stock is owned by institutional investors.

About MarineMax

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.