MarineMax (NYSE:HZO) Shares Up 8.7% – Should You Buy?

Shares of MarineMax, Inc. (NYSE:HZO) shot up 8.7% during trading on Monday . The stock traded as high as $26.76 and last traded at $26.85. 31,390 shares were traded during mid-day trading, a decline of 93% from the average session volume of 461,852 shares. The stock had previously closed at $24.71.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Loop Capital assumed coverage on MarineMax in a research report on Monday, December 22nd. They set a “buy” rating and a $29.00 price objective for the company. Benchmark reissued a “buy” rating on shares of MarineMax in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MarineMax in a research report on Thursday, January 22nd. B. Riley Financial reissued a “buy” rating and issued a $29.00 target price (up from $27.00) on shares of MarineMax in a report on Friday, January 30th. Finally, National Bank Financial set a $35.00 price target on MarineMax in a report on Friday, January 30th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

MarineMax Price Performance

The stock has a market capitalization of $582.01 million, a price-to-earnings ratio of -9.85 and a beta of 1.66. The company has a current ratio of 1.19, a quick ratio of 0.29 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $28.20 and its 200 day moving average is $26.15.

MarineMax (NYSE:HZO) last released its quarterly earnings data on Thursday, January 29th. The specialty retailer reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.09). MarineMax had a negative net margin of 2.46% and a positive return on equity of 1.13%. The company had revenue of $505.18 million during the quarter, compared to analyst estimates of $481.67 million. During the same quarter in the prior year, the company earned $0.17 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Research analysts anticipate that MarineMax, Inc. will post 2.41 EPS for the current fiscal year.

MarineMax announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the specialty retailer to repurchase up to 15.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On MarineMax

Several large investors have recently modified their holdings of HZO. American Century Companies Inc. grew its position in shares of MarineMax by 16.6% during the second quarter. American Century Companies Inc. now owns 2,432,173 shares of the specialty retailer’s stock worth $61,145,000 after acquiring an additional 345,833 shares during the last quarter. State Street Corp boosted its stake in MarineMax by 11.0% during 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 boosted its stake in MarineMax by 13.0% during 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. grew its position in MarineMax by 115.6% during the 2nd quarter. Invesco Ltd. now owns 716,078 shares of the specialty retailer’s stock worth $18,002,000 after purchasing an additional 383,926 shares during the last quarter. Finally, Divisadero Street Capital Management LP acquired a new position in MarineMax in the third quarter valued at $16,620,000. 92.85% of the stock is owned by institutional investors and hedge funds.

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.