MarineMax (NYSE:HZO) Stock Price Down 4.8% – Here’s Why

MarineMax, Inc. (NYSE:HZO)’s stock price dropped 4.8% during trading on Monday . The company traded as low as $32.58 and last traded at $32.68. Approximately 34,249 shares changed hands during trading, a decline of 89% from the average daily volume of 300,641 shares. The stock had previously closed at $34.32.

Analysts Set New Price Targets

A number of research analysts have weighed in on HZO shares. Benchmark started coverage on MarineMax in a research note on Tuesday, October 15th. They set a “buy” rating and a $40.00 price target on the stock. Citigroup raised MarineMax from a “neutral” rating to a “buy” rating and increased their target price for the stock from $40.00 to $44.00 in a research report on Monday, September 9th. Finally, StockNews.com lowered MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, MarineMax presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Price Performance

The company has a market capitalization of $729.88 million, a P/E ratio of 19.81 and a beta of 1.85. The company has a fifty day moving average price of $31.49 and a 200 day moving average price of $31.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.34.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $563.10 million during the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, sell-side analysts forecast that MarineMax, Inc. will post 2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in MarineMax by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,468,991 shares of the specialty retailer’s stock valued at $48,859,000 after purchasing an additional 29,473 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in MarineMax by 7.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 23,576 shares of the specialty retailer’s stock valued at $785,000 after purchasing an additional 1,625 shares during the period. Price T Rowe Associates Inc. MD raised its stake in MarineMax by 17.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,158 shares of the specialty retailer’s stock valued at $205,000 after purchasing an additional 924 shares during the period. Janus Henderson Group PLC raised its stake in MarineMax by 3.3% during the 1st quarter. Janus Henderson Group PLC now owns 16,616 shares of the specialty retailer’s stock valued at $553,000 after purchasing an additional 529 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in MarineMax by 342.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 29,785 shares of the specialty retailer’s stock valued at $964,000 after purchasing an additional 23,057 shares during the period. 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.