MarineMax (NYSE:HZO) Trading Down 4.9% – Time to Sell?

Shares of MarineMax, Inc. (NYSE:HZO) fell 4.9% during trading on Monday . The stock traded as low as $24.28 and last traded at $24.02. 24,463 shares were traded during trading, a decline of 92% from the average session volume of 299,983 shares. The stock had previously closed at $25.25.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Citigroup restated a “buy” rating and issued a $32.00 target price (up from $29.00) on shares of MarineMax in a research note on Monday, June 16th. Truist Financial lowered their price target on shares of MarineMax from $38.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $36.50.

MarineMax Stock Performance

The firm’s fifty day moving average is $22.21 and its 200 day moving average is $25.01. The firm has a market capitalization of $524.49 million, a price-to-earnings ratio of 9.97 and a beta of 1.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.16 and a quick ratio of 0.31.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.07. MarineMax had a net margin of 2.35% and a return on equity of 5.01%. The firm had revenue of $631.52 million for the quarter, compared to analyst estimates of $580.12 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts predict that MarineMax, Inc. will post 2.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in MarineMax by 2.7% during the 1st quarter. American Century Companies Inc. now owns 2,086,340 shares of the specialty retailer’s stock worth $44,856,000 after buying an additional 53,872 shares in the last quarter. Vanguard Group Inc. lifted its position in MarineMax by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,532,153 shares of the specialty retailer’s stock worth $32,941,000 after buying an additional 37,154 shares in the last quarter. Broad Bay Capital Management LP lifted its position in MarineMax by 22.6% during the 1st quarter. Broad Bay Capital Management LP now owns 843,756 shares of the specialty retailer’s stock worth $18,141,000 after buying an additional 155,750 shares in the last quarter. Private Management Group Inc. lifted its position in MarineMax by 5.9% during the 1st quarter. Private Management Group Inc. now owns 559,096 shares of the specialty retailer’s stock worth $12,021,000 after buying an additional 31,226 shares in the last quarter. Finally, Levin Capital Strategies L.P. lifted its position in MarineMax by 42.3% during the 1st quarter. Levin Capital Strategies L.P. now owns 508,287 shares of the specialty retailer’s stock worth $10,928,000 after buying an additional 150,976 shares in the last quarter. Institutional investors and hedge funds 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.