MarineMax (NYSE:HZO) Shares Up 7.5% – What’s Next?

MarineMax, Inc. (NYSE:HZO)’s stock price rose 7.5% on Monday . The stock traded as high as $23.11 and last traded at $24.15. Approximately 8,528 shares were traded during trading, a decline of 97% from the average daily volume of 293,801 shares. The stock had previously closed at $22.46.

Wall Street Analyst Weigh In

HZO has been the topic of a number of research reports. Truist Financial lowered their price objective on MarineMax from $38.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. B. Riley raised shares of MarineMax to a “strong-buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MarineMax has a consensus rating of “Buy” and a consensus target price of $38.50.

MarineMax Price Performance

The company has a 50-day moving average of $21.24 and a 200 day moving average of $25.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.24 and a current ratio of 1.19. The firm has a market cap of $543.37 million, a P/E ratio of 10.63 and a beta of 1.58.

MarineMax (NYSE:HZO) last issued its earnings results on Thursday, April 24th. The specialty retailer reported $0.23 EPS for the quarter, beating the consensus estimate of $0.16 by $0.07. MarineMax had a net margin of 2.33% and a return on equity of 4.96%. The company had revenue of $631.52 million for the quarter, compared to the consensus estimate of $580.12 million. During the same quarter in the previous year, the company earned $0.18 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that MarineMax, Inc. will post 2.41 EPS for the current year.

Institutional Trading of MarineMax

A number of hedge funds and other institutional investors have recently made changes to their positions in HZO. Empowered Funds LLC lifted its position in shares of MarineMax by 4.7% during the fourth quarter. Empowered Funds LLC now owns 22,479 shares of the specialty retailer’s stock worth $651,000 after purchasing an additional 1,006 shares in the last quarter. Principal Financial Group Inc. raised its position in MarineMax by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 96,504 shares of the specialty retailer’s stock worth $2,794,000 after purchasing an additional 3,779 shares during the last quarter. Acuitas Investments LLC lifted its holdings in MarineMax by 9.3% during the 4th quarter. Acuitas Investments LLC now owns 83,800 shares of the specialty retailer’s stock worth $2,426,000 after buying an additional 7,131 shares in the last quarter. Peregrine Capital Management LLC boosted its position in MarineMax by 30.8% in the 4th quarter. Peregrine Capital Management LLC now owns 154,605 shares of the specialty retailer’s stock valued at $4,476,000 after buying an additional 36,411 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of MarineMax in the 4th quarter valued at $215,000. 92.85% of the stock is currently owned by institutional investors and hedge funds.

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.