CL King started coverage on shares of MarineMax, Inc. (NYSE:HZO) in a research note issued to investors on Monday morning, Marketbeat.com reports. The firm issued a neutral rating on the specialty retailer’s stock.
Several other analysts have also recently issued reports on the stock. B. Riley increased their target price on shares of MarineMax from $19.75 to $22.00 and gave the stock a buy rating in a research note on Wednesday, November 1st. Craig Hallum set a $21.00 price objective on shares of MarineMax and gave the company a buy rating in a research report on Tuesday, October 31st. Forward View cut shares of MarineMax from a buy rating to a hold rating in a research report on Monday, October 30th. Citigroup Inc. raised their price objective on shares of MarineMax from $18.00 to $20.00 and gave the company a buy rating in a research report on Monday, October 2nd. Finally, Ifs Securities restated a strong-buy rating and set a $20.00 price objective on shares of MarineMax in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $21.67.
MarineMax (NYSE:HZO) traded up $0.05 during midday trading on Monday, reaching $20.45. 309,300 shares of the company’s stock traded hands, compared to its average volume of 308,873. MarineMax has a fifty-two week low of $13.80 and a fifty-two week high of $23.65. The stock has a market cap of $484.20, a PE ratio of 20.20, a PEG ratio of 0.58 and a beta of 0.99.
MarineMax (NYSE:HZO) last posted its earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.11. MarineMax had a net margin of 2.24% and a return on equity of 7.82%. The business had revenue of $250.62 million for the quarter, compared to analysts’ expectations of $231.96 million. During the same period in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. equities research analysts forecast that MarineMax will post 1.16 earnings per share for the current fiscal year.
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MarineMax declared that its Board of Directors has approved a share repurchase program on Wednesday, August 2nd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other MarineMax news, Director Dean S. Woodman sold 3,000 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the sale, the director now owns 15,193 shares of the company’s stock, valued at approximately $227,895. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael H. Mclamb sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $21.10, for a total transaction of $211,000.00. Following the completion of the sale, the vice president now directly owns 21,500 shares in the company, valued at approximately $453,650. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,500 shares of company stock worth $1,114,550. 5.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. boosted its stake in shares of MarineMax by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 21,619 shares of the specialty retailer’s stock valued at $423,000 after purchasing an additional 56 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of MarineMax by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 12,722 shares of the specialty retailer’s stock valued at $249,000 after purchasing an additional 100 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of MarineMax by 0.3% during the 1st quarter. Legal & General Group Plc now owns 40,772 shares of the specialty retailer’s stock valued at $882,000 after purchasing an additional 105 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of MarineMax by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 17,779 shares of the specialty retailer’s stock valued at $348,000 after purchasing an additional 205 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in shares of MarineMax by 3.4% during the 1st quarter. Thrivent Financial For Lutherans now owns 13,830 shares of the specialty retailer’s stock valued at $299,000 after purchasing an additional 450 shares in the last quarter. 90.57% of the stock is currently 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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