MarineMax (NYSE:HZO) Stock Price Up 5.8% - Here's What Happened

MarineMax, Inc. (NYSE:HZO - Get Free Report) shares shot up 5.8% on Friday . The company traded as high as $30.60 and last traded at $30.60. 17,754 shares changed hands during trading, a decline of 94% from the average session volume of 310,500 shares. The stock had previously closed at $28.91.

Wall Street Analyst Weigh In

Several equities analysts recently commented on HZO shares. Citigroup upgraded shares of MarineMax from a "neutral" rating to a "buy" rating and upped their price target for the company from $40.00 to $44.00 in a research note on Monday, September 9th. B. Riley lowered their target price on shares of MarineMax from $48.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, July 10th. StockNews.com cut MarineMax from a "hold" rating to a "sell" rating in a research note on Tuesday, September 3rd. Stifel Nicolaus raised their price objective on MarineMax from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, July 12th. Finally, DA Davidson upped their target price on MarineMax from $34.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.83.

MarineMax Stock Up 3.9 %

The firm has a 50 day simple moving average of $32.07 and a two-hundred day simple moving average of $30.99. The stock has a market capitalization of $670.15 million, a P/E ratio of 11.13 and a beta of 1.82. The company has a quick ratio of 0.36, a current ratio of 1.20 and a debt-to-equity ratio of 0.37.

MarineMax (NYSE:HZO - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.16. The company had revenue of $757.72 million for the quarter, compared to the consensus estimate of $720.30 million. MarineMax had a net margin of 2.00% and a return on equity of 6.26%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $2.07 EPS. On average, equities research analysts expect that MarineMax, Inc. will post 2.28 earnings per share for the current year.

Institutional Trading of MarineMax

A number of hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new position in shares of MarineMax in the 2nd quarter valued at $52,000. Bfsg LLC raised its position 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 purchasing an additional 681 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 in the last quarter. The Manufacturers Life Insurance Company grew its holdings 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 during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of MarineMax during the third quarter worth about $301,000. Institutional investors and hedge funds own 92.85% of the company's stock.

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.