MarineMax, Inc. (NYSE:HZO) received a $21.00 price objective from Craig Hallum in a research report issued on Tuesday, October 31st. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Craig Hallum’s price target would indicate a potential upside of 0.48% from the stock’s previous close.
Several other research analysts have also issued reports on the stock. TheStreet lowered shares of MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. B. Riley reaffirmed a “buy” rating and issued a $19.75 price objective on shares of MarineMax in a research note on Thursday, October 26th. Forward View lowered shares of MarineMax from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Ifs Securities reaffirmed a “strong-buy” rating and issued a $20.00 price objective on shares of MarineMax in a research note on Thursday, August 24th. Finally, BidaskClub lowered shares of MarineMax from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.67.
Shares of MarineMax (HZO) traded up $0.45 during midday trading on Tuesday, reaching $20.90. 347,122 shares of the company’s stock were exchanged, compared to its average volume of 485,020. MarineMax has a 1 year low of $13.80 and a 1 year high of $23.65. The company has a market capitalization of $496.07, a PE ratio of 20.69, a P/E/G ratio of 0.60 and a beta of 0.99.
MarineMax (NYSE:HZO) last released its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.11. The company had revenue of $250.62 million for the quarter, compared to analysts’ expectations of $231.96 million. MarineMax had a return on equity of 7.82% and a net margin of 2.24%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. analysts forecast that MarineMax will post 1.16 EPS for the current year.
MarineMax announced that its board has authorized a share buyback plan on Wednesday, August 2nd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other MarineMax news, Chairman William H. Mcgill, Jr. sold 35,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.03, for a total value of $736,050.00. Following the transaction, the chairman now directly owns 281,640 shares in the company, valued at $5,922,889.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Michael H. Mclamb sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $21.10, for a total transaction of $211,000.00. Following the completion of the transaction, the vice president now owns 21,500 shares in the company, valued at $453,650. The disclosure for this sale can be found here. In the last three months, insiders sold 55,500 shares of company stock worth $1,114,550. 5.00% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of HZO. BNP Paribas Arbitrage SA increased its stake in MarineMax by 58.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,348 shares of the specialty retailer’s stock valued at $144,000 after purchasing an additional 2,699 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in shares of MarineMax during the third quarter worth $182,000. Municipal Employees Retirement System of Michigan increased its position in shares of MarineMax by 2.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the specialty retailer’s stock worth $192,000 after acquiring an additional 240 shares in the last quarter. UBS Group AG increased its position in shares of MarineMax by 175.7% during the first quarter. UBS Group AG now owns 9,697 shares of the specialty retailer’s stock worth $210,000 after acquiring an additional 6,180 shares in the last quarter. Finally, CAPROCK Group Inc. bought a new stake in shares of MarineMax during the third quarter worth $213,000. 90.57% of the stock is owned by hedge funds and other institutional investors.
MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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