MarineMax (NYSE:HZO) Shares Up 10.2% – Time to Buy?

MarineMax, Inc. (NYSE:HZO) shares were up 10.2% during trading on Monday . The company traded as high as $33.68 and last traded at $33.68. Approximately 137,234 shares were traded during trading, a decline of 55% from the average daily volume of 301,654 shares. The stock had previously closed at $30.56.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup raised MarineMax from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $44.00 in a research report on Monday, September 9th. Benchmark started coverage on shares of MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, StockNews.com lowered shares of 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Price Performance

The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The stock has a market cap of $734.63 million, a P/E ratio of 19.71 and a beta of 1.85. The firm’s fifty day moving average price is $31.59 and its 200-day moving average price is $31.68.

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

Hedge Funds Weigh In On MarineMax

A number of hedge funds have recently made changes to their positions in the business. Portolan Capital Management LLC purchased a new stake in shares of MarineMax in the third quarter worth approximately $11,271,000. Algert Global LLC purchased a new position in MarineMax in the third quarter worth $4,949,000. Concentric Capital Strategies LP purchased a new stake in MarineMax in the third quarter valued at about $4,832,000. Royce & Associates LP boosted its stake in MarineMax by 45.2% in the 3rd quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer’s stock worth $13,008,000 after purchasing an additional 114,880 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of MarineMax by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock worth $46,767,000 after buying an additional 110,601 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.