MarineMax (NYSE:HZO) Trading Down 4.9% – Should You Sell?

MarineMax, Inc. (NYSE:HZO)’s share price was down 4.9% during trading on Monday . The stock traded as low as $24.28 and last traded at $24.02. Approximately 24,463 shares changed hands during trading, a decline of 92% from the average daily volume of 299,983 shares. The stock had previously closed at $25.25.

Wall Street Analyst Weigh In

Several analysts have commented on HZO shares. Truist Financial dropped their target price on shares of MarineMax from $38.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Citigroup restated a “buy” rating and issued a $32.00 price objective (up previously from $29.00) on shares of MarineMax in a research report on Monday, June 16th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $36.50.

MarineMax Stock Performance

The stock has a market capitalization of $524.49 million, a price-to-earnings ratio of 9.97 and a beta of 1.58. The company has a current ratio of 1.16, a quick ratio of 0.31 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average is $22.21 and its two-hundred day moving average is $25.01.

MarineMax (NYSE:HZO) last announced 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. The firm had revenue of $631.52 million during the quarter, compared to analyst estimates of $580.12 million. MarineMax had a net margin of 2.35% and a return on equity of 5.01%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 EPS. Analysts expect that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarineMax

A number of large investors have recently modified their holdings of the business. SWS Partners boosted its stake in shares of MarineMax by 3.4% during the 1st quarter. SWS Partners now owns 21,243 shares of the specialty retailer’s stock worth $457,000 after buying an additional 691 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in MarineMax by 69.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 348,664 shares of the specialty retailer’s stock valued at $7,496,000 after purchasing an additional 142,775 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in MarineMax in the 1st quarter valued at about $168,000. Nexpoint Asset Management L.P. raised its holdings in MarineMax by 75.7% in the 1st quarter. Nexpoint Asset Management L.P. now owns 21,000 shares of the specialty retailer’s stock valued at $452,000 after acquiring an additional 9,045 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in MarineMax by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,921 shares of the specialty retailer’s stock valued at $278,000 after acquiring an additional 546 shares during the period. 92.85% of the stock is currently owned by institutional investors and hedge funds.

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.