MarineMax (NYSE:HZO) Stock Price Down 4.3%

MarineMax, Inc. (NYSE:HZO)’s stock price dropped 4.3% during trading on Tuesday . The company traded as low as $31.76 and last traded at $31.76. Approximately 94,667 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 324,251 shares. The stock had previously closed at $33.20.

Wall Street Analysts Forecast Growth

HZO has been the topic of a number of research analyst reports. Truist Financial decreased their target price on MarineMax from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. B. Riley decreased their target price on MarineMax from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus upped their price objective on MarineMax from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, MarineMax currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.75.

MarineMax Stock Performance

The firm has a market capitalization of $732.36 million, a PE ratio of 11.90 and a beta of 1.83. The business has a 50-day simple moving average of $31.75 and a 200-day simple moving average of $30.85. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.24 and a quick ratio of 0.34.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.55). The business had revenue of $582.90 million for the quarter, compared to the consensus estimate of $590.19 million. MarineMax had a net margin of 2.56% and a return on equity of 7.66%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 EPS. Equities research analysts expect that MarineMax, Inc. will post 2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HZO. Assenagon Asset Management S.A. grew its stake in shares of MarineMax by 25.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 92,191 shares of the specialty retailer’s stock valued at $3,586,000 after buying an additional 18,484 shares during the last quarter. Arizona State Retirement System bought a new position in MarineMax in the fourth quarter worth approximately $214,000. Louisiana State Employees Retirement System bought a new position in MarineMax in the fourth quarter worth approximately $389,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MarineMax by 25.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the specialty retailer’s stock worth $135,000 after purchasing an additional 696 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in MarineMax by 175.9% in the fourth quarter. New York State Common Retirement Fund now owns 21,596 shares of the specialty retailer’s stock worth $840,000 after purchasing an additional 13,769 shares in the last quarter. Institutional investors own 92.85% of the company’s stock.

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.