MarineMax (NYSE:HZO) Stock Price Down 6.4% - Here's Why

Shares of MarineMax, Inc. (NYSE:HZO - Get Free Report) dropped 6.4% during trading on Thursday . The company traded as low as $30.61 and last traded at $30.61. Approximately 93,050 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 312,811 shares. The stock had previously closed at $32.69.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. DA Davidson boosted their price objective on shares of MarineMax from $34.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Citigroup upgraded shares of MarineMax from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $40.00 to $44.00 in a report on Monday, September 9th. StockNews.com lowered shares of MarineMax from a "hold" rating to a "sell" rating in a report on Tuesday, September 3rd. Truist Financial upped their price target on shares of MarineMax from $35.00 to $44.00 and gave the company a "buy" rating in a report on Friday, July 26th. Finally, Stifel Nicolaus upped their price target on shares of MarineMax from $35.00 to $40.00 and gave the company a "buy" rating in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $41.83.

MarineMax Trading Down 3.6 %

The stock's 50-day simple moving average is $31.96 and its 200-day simple moving average is $31.03. The firm has a market capitalization of $702.48 million, a PE ratio of 11.79 and a beta of 1.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.36 and a current ratio of 1.20.

MarineMax (NYSE:HZO - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $1.51 EPS for the quarter, topping the consensus estimate of $1.35 by $0.16. MarineMax had a net margin of 2.00% and a return on equity of 6.26%. The business had revenue of $757.72 million for the quarter, compared to analyst estimates of $720.30 million. During the same quarter in the previous year, the firm posted $2.07 earnings per share. MarineMax's quarterly revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that MarineMax, Inc. will post 2.28 EPS for the current fiscal year.

Hedge Funds Weigh In On MarineMax

Institutional investors and hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new position in shares of MarineMax during the second quarter valued at approximately $52,000. Bfsg LLC increased its position in shares of MarineMax by 19.1% during 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. Price T Rowe Associates Inc. MD increased its position 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 acquiring an additional 924 shares in the last quarter. The Manufacturers Life Insurance Company increased 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 valued at $267,000 after acquiring an additional 408 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of MarineMax by 45.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,897 shares of the specialty retailer's stock valued at $296,000 after acquiring an additional 2,800 shares in the last quarter. Institutional investors 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.

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