MarineMax (NYSE:HZO) Price Target Cut to $35.00

MarineMax (NYSE:HZO) had its target price reduced by Truist Financial from $40.00 to $35.00 in a report issued on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer’s stock.

HZO has been the subject of several other reports. DA Davidson reaffirmed a buy rating and issued a $34.00 target price on shares of MarineMax in a research report on Friday, March 15th. StockNews.com cut MarineMax from a hold rating to a sell rating in a research 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 given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $36.75.

MarineMax Price Performance

HZO stock opened at $26.06 on Friday. The firm has a market cap of $581.14 million, a P/E ratio of 9.44 and a beta of 1.69. The firm’s fifty day moving average is $30.09 and its 200 day moving average is $31.40. MarineMax has a 52 week low of $22.51 and a 52 week high of $42.88. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.34 and a current ratio of 1.24.

MarineMax (NYSE:HZO) last announced 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). MarineMax had a net margin of 2.56% and a return on equity of 7.66%. The company had revenue of $582.90 million for the quarter, compared to the consensus estimate of $590.19 million. During the same period last year, the business posted $1.23 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts predict that MarineMax will post 3.09 earnings per share for the current year.

Insider Activity at MarineMax

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

Institutional Trading of MarineMax

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of MarineMax by 50.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 84,967 shares of the specialty retailer’s stock worth $3,305,000 after buying an additional 28,467 shares in the last quarter. Broad Bay Capital Management LP lifted its position in MarineMax by 34.1% in the 4th quarter. Broad Bay Capital Management LP now owns 704,034 shares of the specialty retailer’s stock valued at $27,387,000 after acquiring an additional 179,034 shares in the last quarter. Premier Fund Managers Ltd purchased a new stake in MarineMax during the 4th quarter valued at $596,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of MarineMax in the 4th quarter worth $959,000. Finally, Crestline Management LP raised its stake in shares of MarineMax by 6.5% in the fourth quarter. Crestline Management LP now owns 26,634 shares of the specialty retailer’s stock worth $1,036,000 after purchasing an additional 1,634 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors.

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.