MarineMax (NYSE:HZO) Trading Down 3.7% – Here’s Why

MarineMax, Inc. (NYSE:HZO) shares fell 3.7% during trading on Friday . The company traded as low as $31.14 and last traded at $31.17. 167,166 shares changed hands during trading, a decline of 39% from the average session volume of 275,214 shares. The stock had previously closed at $32.37.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HZO shares. StockNews.com downgraded MarineMax from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. DA Davidson dropped their price target on MarineMax from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of MarineMax in a report on Friday. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

MarineMax Trading Down 4.8 %

The business has a 50 day moving average of $29.56 and a 200 day moving average of $31.22. The firm has a market cap of $699.51 million, a price-to-earnings ratio of 18.70 and a beta of 1.89. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, January 23rd. The specialty retailer reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.31. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. On average, research analysts forecast that MarineMax, Inc. will post 2.25 earnings per share for the current fiscal year.

Institutional Trading of MarineMax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in MarineMax by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock valued at $46,767,000 after buying an additional 110,601 shares in the last quarter. Victory Capital Management Inc. boosted its position in MarineMax by 134.3% during the 3rd quarter. Victory Capital Management Inc. now owns 129,416 shares of the specialty retailer’s stock worth $4,565,000 after purchasing an additional 74,173 shares during the period. Millennium Management LLC increased its holdings in MarineMax by 22.7% in the 2nd quarter. Millennium Management LLC now owns 401,978 shares of the specialty retailer’s stock valued at $13,012,000 after purchasing an additional 74,451 shares in the last quarter. Algert Global LLC purchased a new position in MarineMax in the third quarter valued at about $4,949,000. Finally, Intech Investment Management LLC purchased a new stake in shares of MarineMax in the third quarter worth about $912,000. Hedge funds and other institutional investors own 92.85% of the company’s stock.

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.