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

MarineMax, Inc. (NYSE:HZO - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $32.52, but opened at $33.48. MarineMax shares last traded at $33.50, with a volume of 13,758 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HZO shares. Citigroup raised MarineMax from a "neutral" rating to a "buy" rating and raised their price target for the company from $40.00 to $44.00 in a report on Monday, September 9th. StockNews.com downgraded MarineMax from a "hold" rating to a "sell" rating in a research report on Tuesday, September 3rd. 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 on the stock. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.83.

MarineMax Stock Up 5.5 %

The firm has a 50-day simple moving average of $31.49 and a 200 day simple moving average of $31.73. 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 stock has a market capitalization of $775.46 million, a P/E ratio of 20.80 and a beta of 1.85.

MarineMax (NYSE:HZO - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.06. The business 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%. MarineMax's quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. On average, equities research analysts forecast that MarineMax, Inc. will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MarineMax

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in MarineMax by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,468,991 shares of the specialty retailer's stock valued at $48,859,000 after buying an additional 29,473 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in MarineMax by 7.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 23,576 shares of the specialty retailer's stock valued at $785,000 after purchasing an additional 1,625 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of MarineMax by 17.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,158 shares of the specialty retailer's stock valued at $205,000 after purchasing an additional 924 shares during the period. Janus Henderson Group PLC boosted its position in shares of MarineMax by 3.3% during the 1st quarter. Janus Henderson Group PLC now owns 16,616 shares of the specialty retailer's stock worth $553,000 after purchasing an additional 529 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of MarineMax by 342.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 29,785 shares of the specialty retailer's stock valued at $964,000 after buying an additional 23,057 shares during the period. 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.