MarineMax (NYSE:HZO) Shares Gap Up – Still a Buy?

MarineMax, Inc. (NYSE:HZO) gapped up before the market opened on Friday . The stock had previously closed at $32.52, but opened at $33.48. MarineMax shares last traded at $33.50, with a volume of 13,758 shares trading hands.

Analyst Ratings Changes

HZO has been the topic of several analyst reports. StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, September 3rd. Citigroup upgraded shares of 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. Finally, Benchmark initiated coverage on shares of MarineMax in a research report on Tuesday, October 15th. They set a “buy” rating and a $40.00 target price for the company. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Price Performance

The firm has a market cap of $789.97 million, a P/E ratio of 21.00 and a beta of 1.85. The stock’s 50-day moving average is $31.52 and its 200-day moving average is $31.68. 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 posted its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping 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 company had revenue of $563.10 million for the quarter, compared to the consensus estimate of $576.49 million. During the same quarter in the previous year, the firm posted $0.69 EPS. The business’s revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that MarineMax, Inc. will post 2.33 EPS for the current fiscal year.

Institutional Trading of MarineMax

Several institutional investors have recently modified their holdings of the company. Portolan Capital Management LLC bought a new position in MarineMax in the third quarter worth $11,271,000. Algert Global LLC bought a new position in shares of MarineMax during the 3rd quarter worth about $4,949,000. Concentric Capital Strategies LP acquired a new stake in shares of MarineMax during the 3rd quarter valued at about $4,832,000. Royce & Associates LP increased its stake in MarineMax by 45.2% in the third quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer’s stock valued at $13,008,000 after acquiring an additional 114,880 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in MarineMax by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock worth $46,767,000 after purchasing an additional 110,601 shares in the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.

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.