MarineMax (NYSE:HZO) Shares Gap Up on Better-Than-Expected Earnings

MarineMax, Inc. (NYSE:HZO - Get Free Report)'s stock price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $27.94, but opened at $31.89. MarineMax shares last traded at $30.67, with a volume of 99,851 shares changing hands.

The specialty retailer reported $0.17 earnings per share for the quarter, topping 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%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Benchmark reiterated a "buy" rating and issued a $40.00 target price on shares of MarineMax in a research report on Friday. StockNews.com lowered shares of MarineMax from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Finally, DA Davidson lowered their target price on shares of MarineMax from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.50.

Institutional Trading of MarineMax

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in shares of MarineMax by 5.2% during the second quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer's stock worth $267,000 after purchasing an additional 408 shares in the last quarter. Bfsg LLC raised its holdings in MarineMax by 19.1% in the third quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer's stock valued at $150,000 after acquiring an additional 681 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 in the last quarter. Empowered Funds LLC raised its holdings in MarineMax by 5.3% in the third quarter. Empowered Funds LLC now owns 21,473 shares of the specialty retailer's stock valued at $757,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in MarineMax by 7.0% in the third quarter. Janus Henderson Group PLC now owns 20,066 shares of the specialty retailer's stock valued at $707,000 after acquiring an additional 1,319 shares in the last quarter. Institutional investors and hedge funds own 92.85% of the company's stock.

MarineMax Trading Down 4.8 %

The company's fifty day moving average is $29.64 and its two-hundred day moving average is $31.23. The stock has a market cap of $699.08 million, a price-to-earnings ratio of 18.67 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 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.