MarineMax (NYSE:HZO) Rating Lowered to Sell at StockNews.com

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

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

MarineMax Stock Down 6.1 %

Shares of MarineMax stock traded down $1.90 on Wednesday, hitting $29.17. 177,618 shares of the company traded hands, compared to its average volume of 297,373. MarineMax has a 12-month low of $22.51 and a 12-month high of $39.85. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The company has a market cap of $659.10 million, a PE ratio of 17.68 and a beta of 1.87. The company has a 50-day moving average price of $31.04 and a 200 day moving average price of $32.14.

MarineMax (NYSE:HZO - Get Free Report) last released 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 return on equity of 5.09% and a net margin of 1.57%. The firm had revenue of $563.10 million during the quarter, compared to analysts' expectations of $576.49 million. During the same quarter 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. Sell-side analysts predict that MarineMax will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HZO. Dimensional Fund Advisors LP lifted its position in MarineMax by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer's stock worth $46,767,000 after acquiring an additional 110,601 shares during the last quarter. Private Management Group Inc. lifted its position in shares of MarineMax by 11.5% during the 3rd quarter. Private Management Group Inc. now owns 534,023 shares of the specialty retailer's stock worth $18,835,000 after purchasing an additional 55,033 shares during the last quarter. Millennium Management LLC boosted its stake in MarineMax by 22.7% during 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 during the period. Royce & Associates LP grew its holdings in 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 last quarter. Finally, Portolan Capital Management LLC bought a new position in MarineMax in the 3rd quarter worth approximately $11,271,000. 92.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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