MarineMax (NYSE:HZO) Trading 5.2% Higher – Should You Buy?

MarineMax, Inc. (NYSE:HZO) shares traded up 5.2% on Tuesday . The company traded as high as $28.86 and last traded at $28.70. 76,053 shares were traded during mid-day trading, a decline of 74% from the average session volume of 295,403 shares. The stock had previously closed at $27.29.

Analyst Ratings Changes

HZO has been the topic of several recent research reports. Citigroup upgraded MarineMax from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $44.00 in a report on Monday, September 9th. StockNews.com raised MarineMax from a “sell” rating to a “hold” rating in a research note on Thursday, December 26th. Finally, Benchmark assumed coverage on MarineMax in a research note on Tuesday, October 15th. They issued a “buy” rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, MarineMax currently has an average rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Price Performance

The stock has a 50-day simple moving average of $30.51 and a 200 day simple moving average of $31.77. The company has a market cap of $655.48 million, a PE ratio of 17.58 and a beta of 1.87. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

MarineMax (NYSE:HZO) last issued its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. The firm had revenue of $563.10 million for the quarter, compared to analyst estimates of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. MarineMax’s revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. Equities analysts expect that MarineMax, Inc. will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MarineMax

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in MarineMax by 8.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,705 shares of the specialty retailer’s stock worth $413,000 after buying an additional 905 shares during the period. XTX Topco Ltd purchased a new stake in shares of MarineMax during the third quarter worth $236,000. Systematic Financial Management LP acquired a new stake in shares of MarineMax in the third quarter valued at $183,000. RBF Capital LLC boosted its holdings in MarineMax by 55.9% in the third quarter. RBF Capital LLC now owns 93,544 shares of the specialty retailer’s stock valued at $3,299,000 after purchasing an additional 33,544 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in MarineMax during the 3rd quarter worth $143,000. 92.85% of the stock is owned by institutional investors and hedge funds.

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.