Stifel Nicolaus Cuts MarineMax (NYSE:HZO) Price Target to $35.00

MarineMax (NYSE:HZO) had its price objective reduced by research analysts at Stifel Nicolaus from $37.00 to $35.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 36.99% from the stock’s current price.

Other analysts also recently issued research reports about the company. Truist Financial cut their price objective on MarineMax from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. DA Davidson reaffirmed a “buy” rating and set a $34.00 target price on shares of MarineMax in a research note on Friday, March 15th. Finally, StockNews.com cut MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.40.

MarineMax Price Performance

MarineMax stock traded down $0.05 during midday trading on Friday, hitting $25.55. The company’s stock had a trading volume of 179,670 shares, compared to its average volume of 328,932. The company has a quick ratio of 0.35, a current ratio of 1.28 and a debt-to-equity ratio of 0.41. The stock’s 50-day moving average price is $30.32 and its 200-day moving average price is $31.48. MarineMax has a 12 month low of $22.51 and a 12 month high of $42.88. The company has a market capitalization of $569.77 million, a PE ratio of 6.31 and a beta of 1.69.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.18 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.55). The business had revenue of $582.90 million during the quarter, compared to the consensus estimate of $590.19 million. MarineMax had a return on equity of 10.44% and a net margin of 3.75%. MarineMax’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. Analysts anticipate that MarineMax will post 3.33 earnings per share for the current fiscal year.

Insider Activity at MarineMax

In related news, EVP Charles A. Cashman sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $29.76, for a total value of $223,200.00. Following the completion of the sale, the executive vice president now owns 63,981 shares of the company’s stock, valued at approximately $1,904,074.56. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Charles A. Cashman sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $29.76, for a total value of $223,200.00. Following the completion of the sale, the executive vice president now directly owns 63,981 shares in the company, valued at approximately $1,904,074.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Clint Moore sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $31.12, for a total value of $124,480.00. Following the completion of the sale, the director now owns 20,544 shares of the company’s stock, valued at $639,329.28. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Spire Wealth Management lifted its holdings in shares of MarineMax by 58.3% during the third quarter. Spire Wealth Management now owns 1,496 shares of the specialty retailer’s stock worth $49,000 after buying an additional 551 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of MarineMax by 442.3% in the third quarter. Fifth Third Bancorp now owns 770 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 628 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MarineMax by 25.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the specialty retailer’s stock valued at $135,000 after purchasing an additional 696 shares in the last quarter. Crestline Management LP raised its stake in shares of MarineMax by 6.5% in the fourth quarter. Crestline Management LP now owns 26,634 shares of the specialty retailer’s stock valued at $1,036,000 after purchasing an additional 1,634 shares in the last quarter. Finally, Aigen Investment Management LP raised its stake in shares of MarineMax by 26.2% in the third quarter. Aigen Investment Management LP now owns 8,729 shares of the specialty retailer’s stock valued at $286,000 after purchasing an additional 1,812 shares in the last quarter. 92.85% of the stock is currently 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.