MarineMax (NYSE:HZO) Downgraded to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of MarineMax (NYSE:HZO) from a hold rating to a sell rating in a research note released on Wednesday.

Several other brokerages have also commented on HZO. Benchmark started coverage on shares of MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price objective for the company. Citigroup upgraded MarineMax from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.00 to $44.00 in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Trading Down 6.1 %

NYSE HZO opened at $29.17 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.34 and a current ratio of 1.19. MarineMax has a fifty-two week low of $22.51 and a fifty-two week high of $39.85. The stock has a market cap of $659.10 million, a P/E ratio of 17.68 and a beta of 1.87. The stock has a 50 day simple moving average of $31.04 and a two-hundred day simple moving average of $32.14.

MarineMax (NYSE:HZO) last released its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The business had revenue of $563.10 million for the quarter, compared to analysts’ expectations of $576.49 million. During the same quarter in the previous year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts forecast that MarineMax will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HZO. Assenagon Asset Management S.A. grew its stake in shares of MarineMax by 342.7% in the second quarter. Assenagon Asset Management S.A. now owns 29,785 shares of the specialty retailer’s stock worth $964,000 after acquiring an additional 23,057 shares during the last quarter. SummerHaven Investment Management LLC grew its position in MarineMax by 2.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 20,150 shares of the specialty retailer’s stock valued at $652,000 after purchasing an additional 567 shares during the last quarter. Bank of New York Mellon Corp increased its stake in MarineMax by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 185,880 shares of the specialty retailer’s stock valued at $6,017,000 after purchasing an additional 3,867 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE raised its holdings in MarineMax by 4.5% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 150,474 shares of the specialty retailer’s stock worth $4,871,000 after buying an additional 6,470 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of MarineMax by 60.0% in the second quarter. Victory Capital Management Inc. now owns 55,243 shares of the specialty retailer’s stock worth $1,788,000 after buying an additional 20,724 shares in the last quarter. Institutional investors own 92.85% of the company’s stock.

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.