Analysts Set MarineMax, Inc. (NYSE:HZO) Price Target at $30.80

MarineMax, Inc. (NYSE:HZO) has been assigned an average rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $30.80.

A number of equities analysts recently issued reports on the company. Loop Capital assumed coverage on MarineMax in a report on Monday, December 22nd. They issued a “buy” rating and a $29.00 price objective for the company. Wall Street Zen raised MarineMax from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of MarineMax in a research report on Thursday, January 22nd. Benchmark reissued a “buy” rating on shares of MarineMax in a research note on Friday, January 30th. Finally, B. Riley Financial reissued a “buy” rating and set a $29.00 price target (up from $27.00) on shares of MarineMax in a report on Friday, January 30th.

MarineMax Trading Down 1.3%

Shares of NYSE:HZO opened at $25.20 on Friday. The company has a quick ratio of 0.29, a current ratio of 1.19 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $28.25 and its 200 day moving average price is $26.14. The company has a market cap of $555.05 million, a PE ratio of -9.40 and a beta of 1.66. MarineMax has a fifty-two week low of $16.85 and a fifty-two week high of $32.00.

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

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

Hedge Funds Weigh In On MarineMax

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in MarineMax by 3.9% in the fourth quarter. AQR Capital Management LLC now owns 9,471 shares of the specialty retailer’s stock worth $229,000 after purchasing an additional 358 shares in the last quarter. Nisa Investment Advisors LLC increased its position in MarineMax by 54.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,056 shares of the specialty retailer’s stock worth $26,000 after buying an additional 374 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in MarineMax by 1.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 37,578 shares of the specialty retailer’s stock valued at $911,000 after buying an additional 403 shares in the last quarter. RBF Capital LLC lifted its position in shares of MarineMax by 0.5% in the fourth quarter. RBF Capital LLC now owns 80,420 shares of the specialty retailer’s stock worth $1,949,000 after buying an additional 420 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of MarineMax by 0.7% in the third quarter. Rhumbline Advisers now owns 65,383 shares of the specialty retailer’s stock worth $1,656,000 after buying an additional 439 shares during the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.

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.