Truist Financial Lowers MarineMax (NYSE:HZO) Price Target to $35.00

MarineMax (NYSE:HZO) had its target price decreased by stock analysts at Truist Financial from $40.00 to $35.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price objective would suggest a potential upside of 36.99% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on HZO. DA Davidson reiterated a “buy” rating and set a $34.00 price target on shares of MarineMax in a research report on Friday, March 15th. StockNews.com cut MarineMax from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.40.

MarineMax Trading Down 0.2 %

NYSE HZO traded down $0.05 during mid-day trading on Friday, reaching $25.55. 179,670 shares of the stock were exchanged, compared to its average volume of 328,932. The business’s fifty day simple moving average is $30.32 and its 200 day simple moving average is $31.48. The stock has a market capitalization of $569.77 million, a PE ratio of 6.31 and a beta of 1.69. MarineMax has a 1-year low of $22.51 and a 1-year high of $42.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.35 and a current ratio of 1.28.

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

Insider Buying and Selling

In other news, EVP Charles A. Cashman sold 7,500 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $29.76, for a total transaction of $223,200.00. Following the transaction, the executive vice president now directly owns 63,981 shares in the company, valued at approximately $1,904,074.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other MarineMax news, Director Clint Moore sold 4,000 shares of the 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 transaction, the director now owns 20,544 shares in the company, valued at $639,329.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles A. Cashman sold 7,500 shares of MarineMax stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $29.76, for a total value of $223,200.00. Following the sale, the executive vice president now directly owns 63,981 shares of the company’s stock, valued at approximately $1,904,074.56. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MarineMax

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Levin Capital Strategies L.P. raised its holdings in MarineMax by 19.1% during the 3rd quarter. Levin Capital Strategies L.P. now owns 708,439 shares of the specialty retailer’s stock worth $23,251,000 after purchasing an additional 113,850 shares during the last quarter. Broad Bay Capital Management LP lifted its holdings in MarineMax by 34.1% during the 4th quarter. Broad Bay Capital Management LP now owns 704,034 shares of the specialty retailer’s stock worth $27,387,000 after purchasing an additional 179,034 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in MarineMax by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 456,701 shares of the specialty retailer’s stock worth $17,766,000 after acquiring an additional 31,856 shares during the last quarter. Private Management Group Inc. increased its position in MarineMax by 5.2% during the 4th quarter. Private Management Group Inc. now owns 422,643 shares of the specialty retailer’s stock valued at $16,441,000 after buying an additional 20,782 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of MarineMax by 3.6% in the third quarter. Invesco Ltd. now owns 248,337 shares of the specialty retailer’s stock worth $8,150,000 after acquiring an additional 8,685 shares during the period. 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.