MarineMax (NYSE:HZO) Downgraded to “Hold” Rating by Northcoast Research

Northcoast Research downgraded shares of MarineMax (NYSE:HZO) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Several other analysts also recently commented on HZO. Benchmark downgraded MarineMax from a “buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings raised MarineMax from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 24th. Loop Capital downgraded MarineMax from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a report on Tuesday. B. Riley Financial lowered MarineMax from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Tuesday, July 21st. Finally, Citigroup reissued a “buy” rating on shares of MarineMax in a research report on Friday, April 24th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, MarineMax presently has an average rating of “Hold” and a consensus target price of $43.00.

MarineMax Stock Down 0.5%

Shares of NYSE HZO opened at $52.18 on Wednesday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 372.71 and a beta of 1.58. The company has a 50-day moving average price of $35.88 and a 200-day moving average price of $31.72. MarineMax has a 1 year low of $21.42 and a 1 year high of $52.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.23 and a quick ratio of 0.34.

MarineMax (NYSE:HZO) last posted its earnings results on Thursday, July 23rd. The specialty retailer reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). MarineMax had a return on equity of 1.51% and a net margin of 0.18%.The business had revenue of $611.26 million during the quarter, compared to analyst estimates of $682.29 million. During the same quarter in the prior year, the company earned ($2.42) EPS. The company’s revenue was down 7.0% on a year-over-year basis. MarineMax has set its FY 2026 guidance at 0.400-0.950 EPS. On average, equities research analysts forecast that MarineMax will post 0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On MarineMax

Several institutional investors have recently added to or reduced their stakes in HZO. BlackRock Inc. purchased a new position in MarineMax in the second quarter valued at about $116,412,000. State Street Corp raised its holdings in shares of MarineMax by 11.0% in the 4th 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 raised its holdings in shares of MarineMax by 13.0% in the 4th quarter. Boothbay Fund Management LLC now owns 774,918 shares of the specialty retailer’s stock worth $18,776,000 after purchasing an additional 89,080 shares during the period. Invesco Ltd. lifted its stake in MarineMax by 115.6% in the second quarter. Invesco Ltd. now owns 716,078 shares of the specialty retailer’s stock valued at $18,002,000 after purchasing an additional 383,926 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in MarineMax by 22.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 592,471 shares of the specialty retailer’s stock valued at $14,356,000 after purchasing an additional 109,241 shares during the period. Institutional investors own 92.85% of the company’s stock.

MarineMax Company Profile

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.