MarineMax (NYSE:HZO) Trading 5.2% Higher - Should You Buy?

MarineMax, Inc. (NYSE:HZO - Get Free Report) shares rose 5.2% during trading on Tuesday . The stock traded as high as $28.86 and last traded at $28.70. Approximately 76,053 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 295,403 shares. The stock had previously closed at $27.29.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HZO shares. Citigroup upgraded MarineMax from a "neutral" rating to a "buy" rating and upped their price objective for the company from $40.00 to $44.00 in a research report on Monday, September 9th. StockNews.com upgraded MarineMax from a "sell" rating to a "hold" rating in a report on Thursday, December 26th. Finally, Benchmark began coverage on shares of MarineMax in a research note on Tuesday, October 15th. They set a "buy" rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, MarineMax currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.83.

MarineMax Price Performance

The stock has a 50 day moving average of $30.50 and a 200-day moving average of $31.75. The company has a current ratio of 1.19, a quick ratio of 0.34 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $654.13 million, a P/E ratio of 17.55 and a beta of 1.87.

MarineMax (NYSE:HZO - Get Free Report) last released its earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, topping the consensus estimate 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%. The business's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. On average, equities research analysts anticipate that MarineMax, Inc. will post 2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarineMax

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of MarineMax by 8.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,705 shares of the specialty retailer's stock worth $413,000 after buying an additional 905 shares in the last quarter. XTX Topco Ltd bought a new position in MarineMax during the 3rd quarter worth about $236,000. Systematic Financial Management LP bought a new position in MarineMax during the 3rd quarter worth about $183,000. RBF Capital LLC increased its position in MarineMax by 55.9% during the 3rd quarter. RBF Capital LLC now owns 93,544 shares of the specialty retailer's stock valued at $3,299,000 after purchasing an additional 33,544 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of MarineMax in the 3rd quarter valued at about $143,000. 92.85% of the stock is owned by hedge funds and other institutional investors.

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.