Brokerages Set MarineMax, Inc. (NYSE:HZO) Price Target at $62.50

Shares of MarineMax, Inc. (NYSE:HZOGet Rating) have been given a consensus rating of “Buy” by the seven ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $59.60.

A number of analysts have recently commented on HZO shares. StockNews.com started coverage on MarineMax in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Zacks Investment Research cut MarineMax from a “buy” rating to a “hold” rating in a research report on Wednesday, March 30th. Citigroup cut their price objective on MarineMax from $52.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, April 19th. Raymond James boosted their price objective on MarineMax from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, January 28th. Finally, B. Riley boosted their price objective on MarineMax from $75.00 to $84.00 in a research report on Friday, January 28th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HZO. Manchester Capital Management LLC acquired a new position in shares of MarineMax in the 3rd quarter valued at $25,000. Addison Advisors LLC acquired a new position in shares of MarineMax in the 4th quarter valued at $30,000. Point72 Hong Kong Ltd lifted its stake in shares of MarineMax by 191.8% in the 4th quarter. Point72 Hong Kong Ltd now owns 642 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 422 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of MarineMax in the 3rd quarter valued at $66,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of MarineMax by 15.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,675 shares of the specialty retailer’s stock valued at $81,000 after purchasing an additional 226 shares during the last quarter. 99.13% of the stock is currently owned by institutional investors.

HZO stock traded up $1.16 during trading on Monday, hitting $40.92. 1,021,420 shares of the company traded hands, compared to its average volume of 493,057. The stock’s 50-day simple moving average is $42.39 and its 200 day simple moving average is $48.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.57 and a quick ratio of 0.72. The company has a market cap of $896.97 million, a PE ratio of 5.12 and a beta of 1.73. MarineMax has a 1 year low of $35.60 and a 1 year high of $70.89.

MarineMax (NYSE:HZOGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The specialty retailer reported $2.37 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.59. The company had revenue of $610.10 million during the quarter, compared to analysts’ expectations of $541.34 million. MarineMax had a return on equity of 28.80% and a net margin of 7.88%. MarineMax’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the business earned $1.69 earnings per share. Research analysts expect that MarineMax will post 7.9 earnings per share for the current year.

About MarineMax (Get Rating)

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates through 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, pontoon boats, ski boats, jet boats, and other recreational boats.

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