MarineMax (NYSE:HZO) Raised to "Hold" at StockNews.com

MarineMax (NYSE:HZO - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Thursday.

A number of other equities analysts have also commented on the stock. Citigroup upgraded shares of MarineMax from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $40.00 to $44.00 in a report on Monday, September 9th. Benchmark assumed coverage on MarineMax in a research note on Tuesday, October 15th. They issued a "buy" rating and a $40.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, MarineMax currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.83.

MarineMax Price Performance

MarineMax stock traded up $0.12 during mid-day trading on Thursday, reaching $28.66. The company had a trading volume of 126,038 shares, compared to its average volume of 297,334. The business has a fifty day simple moving average of $30.69 and a 200 day simple moving average of $31.91. The company has a market cap of $647.57 million, a P/E ratio of 17.37 and a beta of 1.87. The company has a current ratio of 1.19, a quick ratio of 0.34 and a debt-to-equity ratio of 0.36. MarineMax has a fifty-two week low of $22.51 and a fifty-two week high of $39.85.

MarineMax (NYSE:HZO - Get Free Report) last posted its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. The firm had revenue of $563.10 million during the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a return on equity of 5.09% and a net margin of 1.57%. The business's quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. On average, equities research analysts predict that MarineMax will post 2.33 earnings per share for the current year.

Institutional Investors Weigh In On MarineMax

Several large investors have recently added to or reduced their stakes in HZO. Portolan Capital Management LLC bought a new position in MarineMax during the third quarter worth $11,271,000. Algert Global LLC acquired a new position in shares of MarineMax during the third quarter valued at about $4,949,000. Concentric Capital Strategies LP bought a new position in shares of MarineMax during the 3rd quarter worth about $4,832,000. Royce & Associates LP grew its stake in shares of MarineMax by 45.2% in the 3rd quarter. Royce & Associates LP now owns 368,826 shares of the specialty retailer's stock valued at $13,008,000 after buying an additional 114,880 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in MarineMax by 8.3% in the 2nd 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. Institutional investors and hedge funds 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.