MarineMax (NYSE:HZO) Raised to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of MarineMax (NYSE:HZO) from a hold rating to a strong-buy rating in a report issued on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $55.00 price objective on the specialty retailer’s stock.

According to Zacks, “MarineMax, Inc. is the nation’s largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Galeon, Grady-White, Harris, Crest, Scout, Sailfish, Sea Pro, Scarab Jet Boats, Aquila, and Nautique, MarineMax sells new and used recreational boats and related marine products and services as well as provides yacht brokerage and charter services. MarineMax currently has 62 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands. “

A number of other equities research analysts have also recently commented on HZO. B. Riley reissued a buy rating and issued a $65.00 price objective (up from $57.00) on shares of MarineMax in a research note on Friday, July 23rd. Raymond James decreased their target price on shares of MarineMax from $68.00 to $67.00 and set an outperform rating on the stock in a research report on Friday, July 23rd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $52.86.

Shares of HZO traded down $0.68 during trading hours on Tuesday, reaching $47.32. The company had a trading volume of 229,576 shares, compared to its average volume of 504,123. The firm has a 50 day simple moving average of $50.07 and a 200-day simple moving average of $51.50. The company has a current ratio of 2.20, a quick ratio of 1.26 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 7.34 and a beta of 1.75. MarineMax has a 12-month low of $23.24 and a 12-month high of $70.89.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, July 22nd. The specialty retailer reported $2.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.49. The business had revenue of $666.33 million during the quarter, compared to the consensus estimate of $615.99 million. MarineMax had a net margin of 7.39% and a return on equity of 29.34%. The business’s revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 EPS. Sell-side analysts forecast that MarineMax will post 6.54 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC raised its holdings in MarineMax by 6.5% in the second quarter. Mutual of America Capital Management LLC now owns 3,150 shares of the specialty retailer’s stock valued at $154,000 after buying an additional 193 shares during the period. American International Group Inc. raised its stake in shares of MarineMax by 1.5% during the first quarter. American International Group Inc. now owns 14,233 shares of the specialty retailer’s stock valued at $703,000 after purchasing an additional 207 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of MarineMax by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 12,272 shares of the specialty retailer’s stock valued at $598,000 after purchasing an additional 281 shares during the period. FMR LLC raised its stake in shares of MarineMax by 129.0% during the second quarter. FMR LLC now owns 561 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 316 shares during the period. Finally, IndexIQ Advisors LLC grew its position in shares of MarineMax by 4.1% during the second quarter. IndexIQ Advisors LLC now owns 8,196 shares of the specialty retailer’s stock worth $399,000 after buying an additional 322 shares in the last quarter.

MarineMax Company Profile

MarineMax, Inc engages in the provision of boating-related activities. The firm sells used and new sport boats, sport cruisers, sport yachts and fishing boats through retail stores. It also provides maintenance, repair, slip and storage services. The company was founded in January 1998 and is headquartered in Clearwater, FL.

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