MarineMax (NYSE:HZO) Given New $35.00 Price Target at DA Davidson

MarineMax (NYSE:HZO) had its price objective lowered by analysts at DA Davidson from $38.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. DA Davidson’s target price points to a potential upside of 24.14% from the stock’s current price.

Several other research analysts have also recently issued reports on HZO. StockNews.com cut MarineMax from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Benchmark assumed coverage on shares of MarineMax in a research note on Tuesday, October 15th. They issued a “buy” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, MarineMax has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

MarineMax Stock Down 1.3 %

Shares of MarineMax stock traded down $0.39 during midday trading on Wednesday, hitting $28.20. The company had a trading volume of 34,179 shares, compared to its average volume of 197,099. MarineMax has a 52-week low of $22.51 and a 52-week high of $38.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.34 and a current ratio of 1.19. The stock has a market capitalization of $639.74 million, a P/E ratio of 17.09 and a beta of 1.89. The company has a 50 day moving average of $29.67 and a 200 day moving average of $31.26.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. The firm had revenue of $563.10 million during the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The company’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. On average, equities analysts predict that MarineMax will post 2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HZO. Canada Pension Plan Investment Board acquired a new stake in shares of MarineMax in the 2nd quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of MarineMax in the 3rd quarter valued at about $67,000. Point72 Asset Management L.P. purchased a new stake in MarineMax in the third quarter valued at approximately $143,000. Bfsg LLC lifted its position in MarineMax by 19.1% in the third quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer’s stock valued at $150,000 after purchasing an additional 681 shares during the period. Finally, Systematic Financial Management LP acquired a new stake in MarineMax during the third quarter worth approximately $183,000. 92.85% of the stock is currently owned by hedge funds and other 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.