MarineMax, Inc. (HZO) Raised to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of MarineMax, Inc. (NYSE:HZO) from a sell rating to a hold rating in a report released on Wednesday.

According to Zacks, “MarineMax, Inc. is a recreational boat dealer in the United States. Through retail locations, the company sells new and used recreational boats and fishing boats with a focus on premium brands in each segment. “

HZO has been the topic of a number of other reports. B. Riley reissued a buy rating and set a $22.50 price target on shares of MarineMax in a research note on Tuesday, November 1st. TheStreet raised MarineMax from a hold rating to a buy rating in a research note on Monday, December 12th. Finally, SunTrust Banks, Inc. set a $24.00 price target on MarineMax and gave the company a buy rating in a research note on Wednesday, November 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. MarineMax presently has a consensus rating of Buy and a consensus price target of $23.50.

Shares of MarineMax (NYSE:HZO) traded down 2.41% on Wednesday, reaching $18.25. 28,854 shares of the company’s stock traded hands. The company’s 50-day moving average is $19.57 and its 200-day moving average is $19.32. The firm has a market capitalization of $443.20 million, a P/E ratio of 20.05 and a beta of 1.03. MarineMax has a 52 week low of $13.56 and a 52 week high of $22.05.

MarineMax (NYSE:HZO) last released its earnings results on Tuesday, November 1st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.03. MarineMax had a net margin of 2.44% and a return on equity of 7.39%. The business earned $227 million during the quarter, compared to the consensus estimate of $222.10 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The business’s revenue was up 20.1% on a year-over-year basis. Equities research analysts anticipate that MarineMax will post $1.14 earnings per share for the current fiscal year.

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In other news, EVP Charles A. Cashman sold 9,286 shares of the business’s stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $18.66, for a total transaction of $173,276.76. Following the completion of the sale, the executive vice president now owns 6,712 shares in the company, valued at $125,245.92. The transaction was disclosed in a filing with the SEC,  Also, Director Hilliard M. Eure sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $20.09, for a total value of $180,810.00. Following the sale, the director now owns 14,000 shares of the company’s stock, valued at approximately $281,260. Insiders own 5.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in MarineMax during the third quarter valued at approximately $104,000. Municipal Employees Retirement System of Michigan increased its stake in MarineMax by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,400 shares of the company’s stock valued at $113,000 after buying an additional 90 shares in the last quarter. BlackRock Inc. increased its stake in MarineMax by 6.8% in the third quarter. BlackRock Inc. now owns 5,525 shares of the company’s stock valued at $116,000 after buying an additional 354 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in MarineMax by 97.7% in the second quarter. BNP Paribas Arbitrage SA now owns 7,555 shares of the company’s stock valued at $128,000 after buying an additional 3,733 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its stake in MarineMax by 506.9% in the second quarter. Riverhead Capital Management LLC now owns 11,682 shares of the company’s stock valued at $160,000 after buying an additional 9,757 shares in the last quarter. Hedge funds and other institutional investors own 94.75% of the company’s stock.

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