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 report issued on Wednesday morning.

Separately, Benchmark initiated coverage on shares of MarineMax in a research report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price target on the stock. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MarineMax has an average rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Stock Performance

NYSE HZO opened at $26.75 on Wednesday. The company has a market capitalization of $604.42 million, a price-to-earnings ratio of 16.21 and a beta of 1.89. 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 has a twelve month low of $22.51 and a twelve month high of $38.20. The stock has a fifty day simple moving average of $30.26 and a 200 day simple moving average of $31.53.

MarineMax (NYSE:HZO) last issued 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. The company had revenue of $563.10 million during the quarter, compared to analysts’ expectations of $576.49 million. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. Sell-side analysts expect that MarineMax will post 2.33 EPS for the current year.

Hedge Funds Weigh In On MarineMax

A number of institutional investors and hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board acquired a new position in shares of MarineMax during the 2nd quarter valued at $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of MarineMax during the third quarter valued at about $67,000. Point72 Asset Management L.P. bought a new position in shares of MarineMax during the 3rd quarter worth about $143,000. Bfsg LLC boosted its position in shares of MarineMax by 19.1% during the 3rd quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock worth $150,000 after purchasing an additional 681 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of MarineMax in the 3rd quarter valued at about $183,000. 92.85% of the stock is currently owned by 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.