MarineMax (NYSE:HZO) Given New $35.00 Price Target at Stifel Nicolaus

MarineMax (NYSE:HZO) had its price objective decreased by Stifel Nicolaus from $37.00 to $35.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 37.96% from the stock’s current price.

A number of other equities analysts also recently issued reports on HZO. Truist Financial dropped their price objective on shares of MarineMax from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. DA Davidson reaffirmed a “buy” rating and set a $34.00 price target on shares of MarineMax in a report on Friday, March 15th. Finally, StockNews.com downgraded shares of MarineMax from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.40.

MarineMax Stock Performance

HZO opened at $25.37 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.35 and a debt-to-equity ratio of 0.40. The company has a market cap of $565.75 million, a price-to-earnings ratio of 9.19 and a beta of 1.69. The company’s 50 day moving average is $30.20 and its 200 day moving average is $31.43. MarineMax has a 12-month low of $22.51 and a 12-month high of $42.88.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.55). The business had revenue of $582.90 million during the quarter, compared to analysts’ expectations of $590.19 million. MarineMax had a return on equity of 7.66% and a net margin of 2.56%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. On average, equities research analysts predict that MarineMax will post 3.09 EPS for the current year.

Insider Buying and Selling at MarineMax

In other MarineMax news, EVP Charles A. Cashman sold 7,500 shares of MarineMax stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total transaction of $223,200.00. Following the transaction, the executive vice president now owns 63,981 shares of the company’s stock, valued at $1,904,074.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Charles A. Cashman sold 7,500 shares of MarineMax stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total transaction of $223,200.00. Following the sale, the executive vice president now owns 63,981 shares in the company, valued at $1,904,074.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction of $124,480.00. Following the sale, the director now owns 20,544 shares in the company, valued at approximately $639,329.28. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On MarineMax

Institutional investors and hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in shares of MarineMax by 31.3% during the third quarter. Assenagon Asset Management S.A. now owns 73,707 shares of the specialty retailer’s stock valued at $2,419,000 after buying an additional 17,579 shares during the last quarter. Bfsg LLC bought a new stake in MarineMax in the fourth quarter worth $133,000. Jump Financial LLC increased its position in MarineMax by 101.8% in the third quarter. Jump Financial LLC now owns 33,507 shares of the specialty retailer’s stock worth $1,100,000 after purchasing an additional 16,907 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in MarineMax by 438.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,500 shares of the specialty retailer’s stock worth $1,854,000 after purchasing an additional 46,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in MarineMax by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 424,845 shares of the specialty retailer’s stock worth $13,943,000 after purchasing an additional 28,539 shares during the last quarter. Institutional investors own 92.85% of the company’s stock.

About MarineMax

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.