MarineMax (NYSE:HZO) Stock Price Down 6.4% – Time to Sell?

MarineMax, Inc. (NYSE:HZO) traded down 6.4% during mid-day trading on Thursday . The company traded as low as $30.61 and last traded at $30.61. 93,050 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 312,811 shares. The stock had previously closed at $32.69.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HZO. Stifel Nicolaus upped their price objective on MarineMax from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 12th. DA Davidson increased their price objective on shares of MarineMax from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. B. Riley dropped their price target on MarineMax from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Benchmark initiated coverage on shares of MarineMax in a report on Tuesday. They set a “buy” rating and a $40.00 target price on the stock. Finally, Citigroup raised shares of MarineMax from a “neutral” rating to a “buy” rating and increased their price objective for the company from $40.00 to $44.00 in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, MarineMax currently has an average rating of “Moderate Buy” and an average target price of $41.83.

MarineMax Trading Down 0.4 %

The firm has a market capitalization of $699.58 million, a price-to-earnings ratio of 11.37 and a beta of 1.82. The business has a 50-day moving average of $32.05 and a two-hundred day moving average of $31.02. The company has a quick ratio of 0.36, a current ratio of 1.20 and a debt-to-equity ratio of 0.37.

MarineMax (NYSE:HZO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.16. MarineMax had a net margin of 2.00% and a return on equity of 6.26%. The business had revenue of $757.72 million during the quarter, compared to analysts’ expectations of $720.30 million. During the same quarter last year, the company posted $2.07 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts predict that MarineMax, Inc. will post 2.28 EPS for the current fiscal year.

Hedge Funds Weigh In On MarineMax

A number of hedge funds and other institutional investors have recently made changes to their positions in HZO. Canada Pension Plan Investment Board acquired a new position in MarineMax during the second quarter worth $52,000. Bfsg LLC grew its stake in MarineMax by 19.1% in the 3rd quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock valued at $150,000 after buying an additional 681 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of MarineMax by 17.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,158 shares of the specialty retailer’s stock valued at $205,000 after purchasing an additional 924 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in MarineMax by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer’s stock worth $267,000 after buying an additional 408 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in MarineMax in the 3rd quarter worth about $301,000. 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.