MarineMax (NYSE:HZO) Shares Gap Up - Here's What Happened

MarineMax, Inc. (NYSE:HZO - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $30.69, but opened at $32.86. MarineMax shares last traded at $32.47, with a volume of 29,761 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Citigroup upgraded shares of MarineMax from a "neutral" rating to a "buy" rating and increased their price target for the company from $40.00 to $44.00 in a report on Monday, September 9th. StockNews.com raised shares of MarineMax from a "sell" rating to a "hold" rating in a report on Monday, December 9th. Finally, Benchmark initiated coverage on shares of MarineMax in a research report on Tuesday, October 15th. They set 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $41.83.

MarineMax Trading Up 4.5 %

The company has a market cap of $724.40 million, a price-to-earnings ratio of 19.45 and a beta of 1.87. 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 business's 50-day simple moving average is $30.97 and its 200-day simple moving average is $32.11.

MarineMax (NYSE:HZO - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping 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 company's quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. Research analysts predict that MarineMax, Inc. will post 2.33 earnings per share for the current fiscal year.

Institutional Trading of MarineMax

A number of large investors have recently made changes to their positions in HZO. Canada Pension Plan Investment Board acquired a new stake in MarineMax during the second quarter worth approximately $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of MarineMax during the 3rd quarter worth $67,000. Point72 Asset Management L.P. acquired a new stake in shares of MarineMax during the third quarter worth $143,000. Bfsg LLC grew its position in shares of 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 purchasing an additional 681 shares during the period. Finally, Systematic Financial Management LP purchased a new stake in shares of MarineMax in the third quarter valued at $183,000. 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.