MarineMax (NYSE:HZO) Stock Passes Above 200 Day Moving Average – Here’s What Happened

MarineMax, Inc. (NYSE:HZO)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.14 and traded as high as $26.85. MarineMax shares last traded at $25.8230, with a volume of 427,816 shares changing hands.

Analyst Ratings Changes

HZO has been the topic of a number of research analyst reports. Loop Capital assumed coverage on MarineMax in a research report on Monday, December 22nd. They set a “buy” rating and a $29.00 price target on the stock. Benchmark reissued a “buy” rating on shares of MarineMax in a research note on Friday, January 30th. Weiss Ratings restated a “sell (d)” rating on shares of MarineMax in a report on Thursday, January 22nd. National Bank Financial set a $35.00 price target on shares of MarineMax in a research note on Friday, January 30th. Finally, Zacks Research raised shares of MarineMax from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.80.

MarineMax Stock Performance

The stock has a fifty day moving average of $27.92 and a 200-day moving average of $26.16. The firm has a market capitalization of $604.06 million, a P/E ratio of -10.23 and a beta of 1.65. The company has a quick ratio of 0.29, a current ratio of 1.19 and a debt-to-equity ratio of 0.37.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, January 29th. The specialty retailer reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The firm had revenue of $505.18 million during the quarter, compared to the consensus estimate of $481.67 million. MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. On average, research analysts anticipate that MarineMax, Inc. will post 2.41 EPS for the current year.

MarineMax declared that its Board of Directors has authorized a stock buyback plan on Wednesday, March 4th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty retailer to buy up to 15.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State Street Corp boosted its position in MarineMax by 11.0% during the fourth quarter. State Street Corp now owns 953,009 shares of the specialty retailer’s stock worth $23,091,000 after purchasing an additional 94,356 shares during the period. Boothbay Fund Management LLC lifted its stake in shares of MarineMax by 13.0% during the 4th quarter. Boothbay Fund Management LLC now owns 774,918 shares of the specialty retailer’s stock worth $18,776,000 after buying an additional 89,080 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of MarineMax by 115.6% during the 2nd quarter. Invesco Ltd. now owns 716,078 shares of the specialty retailer’s stock worth $18,002,000 after buying an additional 383,926 shares during the period. Divisadero Street Capital Management LP bought a new stake in shares of MarineMax during the 3rd quarter worth about $16,620,000. Finally, Charles Schwab Investment Management Inc. grew its stake in MarineMax by 22.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 592,471 shares of the specialty retailer’s stock valued at $14,356,000 after buying an additional 109,241 shares during the last quarter. 92.85% of the stock is owned by institutional investors and hedge funds.

About MarineMax

MarineMax, Inc is a publicly traded company on the New York Stock Exchange under the ticker HZO and is one of the largest recreational boat and yacht retailers in the United States. The company markets new and used motor yachts, sailing yachts, sport boats and personal watercraft, acting as an authorized dealer for leading manufacturers. In addition to boat sales, MarineMax provides service and maintenance, parts and accessory sales, training and education, and marina operations.

Operating through a network of sales centers, service facilities and marinas, MarineMax serves coastal and inland markets across the continental U.S.