MarineMax (NYSE:HZO) Coverage Initiated at Benchmark

Benchmark started coverage on shares of MarineMax (NYSE:HZO) in a note issued to investors on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $40.00 price target on the specialty retailer’s stock. Benchmark’s target price points to a potential upside of 20.74% from the company’s current price.

Other analysts have also issued research reports about the stock. DA Davidson raised their price objective on shares of MarineMax from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Citigroup upgraded 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 report on Monday, September 9th. Stifel Nicolaus raised their target price on MarineMax from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, B. Riley reduced their price target on shares of MarineMax from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Price Performance

Shares of HZO stock opened at $33.13 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.20 and a quick ratio of 0.36. The stock’s fifty day simple moving average is $31.82 and its 200 day simple moving average is $31.02. MarineMax has a one year low of $22.51 and a one year high of $39.85. The firm has a market cap of $738.83 million, a price-to-earnings ratio of 12.00 and a beta of 1.82.

MarineMax (NYSE:HZO) last issued its earnings results on Thursday, July 25th. The specialty retailer reported $1.51 EPS for the quarter, beating the consensus estimate of $1.35 by $0.16. The company had revenue of $757.72 million for the quarter, compared to the consensus estimate of $720.30 million. MarineMax had a net margin of 2.00% and a return on equity of 6.26%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.07 EPS. On average, analysts expect that MarineMax will post 2.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarineMax

Several hedge funds have recently added to or reduced their stakes in HZO. Vanguard Group Inc. raised its holdings in MarineMax by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,468,991 shares of the specialty retailer’s stock worth $48,859,000 after purchasing an additional 29,473 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in MarineMax by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock valued at $46,767,000 after buying an additional 110,601 shares during the period. Levin Capital Strategies L.P. boosted its stake in MarineMax by 140.6% in the first quarter. Levin Capital Strategies L.P. now owns 1,045,514 shares of the specialty retailer’s stock valued at $34,774,000 after acquiring an additional 610,994 shares during the last quarter. Private Management Group Inc. grew its holdings in MarineMax by 6.8% during the 2nd quarter. Private Management Group Inc. now owns 478,990 shares of the specialty retailer’s stock worth $15,505,000 after acquiring an additional 30,677 shares during the period. Finally, Millennium Management LLC grew its holdings in MarineMax by 22.7% during the 2nd quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock worth $13,012,000 after acquiring an additional 74,451 shares during the period. Institutional investors own 92.85% of the company’s stock.

MarineMax Company Profile

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.