MarineMax (NYSE:HZO) Stock Price Down 4.8% – Here’s Why

MarineMax, Inc. (NYSE:HZO) was down 4.8% on Monday . The company traded as low as $32.58 and last traded at $32.68. Approximately 34,249 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 300,641 shares. The stock had previously closed at $34.32.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HZO. StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, September 3rd. Citigroup upgraded shares of MarineMax from a “neutral” rating to a “buy” rating and increased their target price for the company from $40.00 to $44.00 in a research note on Monday, September 9th. Finally, Benchmark assumed coverage on shares of MarineMax in a research report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price target for the company. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat, MarineMax presently has an average rating of “Moderate Buy” and an average price target of $41.83.

MarineMax Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.34. The company’s 50 day moving average price is $31.49 and its 200 day moving average price is $31.78. The firm has a market capitalization of $729.88 million, a P/E ratio of 19.81 and a beta of 1.85.

MarineMax (NYSE:HZO) last announced its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The firm had revenue of $563.10 million for the quarter, compared to analysts’ expectations of $576.49 million. During the same period last year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that MarineMax, Inc. will post 2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On MarineMax

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in shares of MarineMax during the third quarter worth $236,000. Systematic Financial Management LP bought a new position in shares of MarineMax during the third quarter worth $183,000. RBF Capital LLC boosted its position in shares of MarineMax by 55.9% during the third quarter. RBF Capital LLC now owns 93,544 shares of the specialty retailer’s stock worth $3,299,000 after purchasing an additional 33,544 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of MarineMax during the third quarter worth $143,000. Finally, Portolan Capital Management LLC acquired a new stake in shares of MarineMax during the third quarter worth $11,271,000. 92.85% of the stock is owned by 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.