MarineMax (NYSE:HZO) Given New $26.00 Price Target at Truist Financial

MarineMax (NYSE:HZO - Get Free Report) had its target price reduced by equities research analysts at Truist Financial from $38.00 to $26.00 in a research note issued on Monday, MarketBeat.com reports. The brokerage currently has a "buy" rating on the specialty retailer's stock. Truist Financial's price objective points to a potential upside of 37.99% from the stock's current price.

Several other research analysts have also recently issued reports on HZO. B. Riley raised MarineMax to a "strong-buy" rating in a research report on Wednesday, February 12th. Benchmark reissued a "buy" rating and issued a $40.00 target price on shares of MarineMax in a report on Friday, January 24th. StockNews.com upgraded MarineMax from a "sell" rating to a "hold" rating in a research note on Friday, January 24th. Finally, DA Davidson lowered their price target on MarineMax from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MarineMax presently has an average rating of "Buy" and a consensus price target of $38.50.

MarineMax Stock Performance

NYSE:HZO traded up $0.76 during trading hours on Monday, hitting $18.84. 417,440 shares of the company were exchanged, compared to its average volume of 305,787. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.19 and a quick ratio of 0.24. MarineMax has a 52-week low of $16.85 and a 52-week high of $38.20. The stock has a market capitalization of $427.85 million, a price-to-earnings ratio of 7.92 and a beta of 1.83. The company's 50 day moving average price is $23.10 and its 200-day moving average price is $27.69.

MarineMax (NYSE:HZO - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.31. MarineMax had a net margin of 2.33% and a return on equity of 4.96%. As a group, research analysts forecast that MarineMax will post 2.41 earnings per share for the current year.

Insider Buying and Selling

In other MarineMax news, Director Clint Moore sold 4,100 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $30.63, for a total value of $125,583.00. Following the transaction, the director now directly owns 23,560 shares of the company's stock, valued at $721,642.80. This represents a 14.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Anthony E. Jr. Cassella sold 4,000 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $31.06, for a total transaction of $124,240.00. Following the completion of the sale, the chief accounting officer now directly owns 11,451 shares in the company, valued at $355,668.06. This represents a 25.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MarineMax by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,375 shares of the specialty retailer's stock worth $358,000 after purchasing an additional 532 shares during the period. US Bancorp DE raised its stake in MarineMax by 49.6% during the fourth quarter. US Bancorp DE now owns 1,764 shares of the specialty retailer's stock worth $51,000 after acquiring an additional 585 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in MarineMax by 6.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 11,776 shares of the specialty retailer's stock worth $341,000 after acquiring an additional 732 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in MarineMax by 8.4% in the third quarter. JPMorgan Chase & Co. now owns 11,705 shares of the specialty retailer's stock valued at $413,000 after acquiring an additional 905 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of MarineMax by 4.7% during the fourth quarter. Empowered Funds LLC now owns 22,479 shares of the specialty retailer's stock valued at $651,000 after purchasing an additional 1,006 shares during the last quarter. Institutional investors own 92.85% of the company's stock.

MarineMax Company Profile

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.