MarineMax’s (HZO) Buy Rating Reiterated at Citigroup

MarineMax (NYSE:HZO)‘s stock had its “buy” rating reiterated by research analysts at Citigroup in a research report issued on Monday, MarketBeat Ratings reports. They currently have a $32.00 price objective on the specialty retailer’s stock, up from their previous price objective of $29.00. Citigroup’s target price would suggest a potential upside of 25.66% from the stock’s current price.

Separately, Truist Financial decreased their price target on MarineMax from $38.00 to $26.00 and set a “buy” rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, MarineMax has a consensus rating of “Buy” and a consensus target price of $36.50.

MarineMax Price Performance

Shares of NYSE HZO opened at $25.47 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.16 and a quick ratio of 0.31. The company has a market cap of $546.76 million, a price-to-earnings ratio of 10.39 and a beta of 1.58. The stock’s 50-day moving average is $21.96 and its two-hundred day moving average is $25.20. MarineMax has a 1-year low of $16.85 and a 1-year high of $38.20.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, April 24th. The specialty retailer reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. MarineMax had a net margin of 2.35% and a return on equity of 5.01%. The firm had revenue of $631.52 million for the quarter, compared to analyst estimates of $580.12 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts forecast that MarineMax will post 2.41 EPS for the current fiscal year.

Institutional Investors Weigh In On MarineMax

Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings in shares of MarineMax by 2.7% during the first quarter. American Century Companies Inc. now owns 2,086,340 shares of the specialty retailer’s stock worth $44,856,000 after purchasing an additional 53,872 shares during the last quarter. Vanguard Group Inc. grew its stake in MarineMax by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,532,153 shares of the specialty retailer’s stock worth $32,941,000 after buying an additional 37,154 shares during the last quarter. Broad Bay Capital Management LP increased its position in MarineMax by 22.6% during the first quarter. Broad Bay Capital Management LP now owns 843,756 shares of the specialty retailer’s stock worth $18,141,000 after buying an additional 155,750 shares during the period. Private Management Group Inc. lifted its stake in MarineMax by 5.9% in the first quarter. Private Management Group Inc. now owns 559,096 shares of the specialty retailer’s stock valued at $12,021,000 after buying an additional 31,226 shares during the last quarter. Finally, Levin Capital Strategies L.P. boosted its holdings in shares of MarineMax by 42.3% in the first quarter. Levin Capital Strategies L.P. now owns 508,287 shares of the specialty retailer’s stock valued at $10,928,000 after acquiring an additional 150,976 shares during the period. 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.