MarineMax’s (HZO) Strong-Buy Rating Reiterated at Ifs Securities
Ifs Securities restated their strong-buy rating on shares of MarineMax, Inc. (NYSE:HZO) in a report issued on Thursday. Ifs Securities currently has a $20.00 price target on the specialty retailer’s stock.
HZO has been the topic of a number of other research reports. BidaskClub lowered MarineMax from a hold rating to a sell rating in a research report on Tuesday, July 25th. Zacks Investment Research lowered MarineMax from a buy rating to a hold rating in a research report on Wednesday, April 26th. Citigroup Inc. reissued a buy rating and issued a $25.00 target price (down previously from $26.00) on shares of MarineMax in a research report on Monday, May 15th. TheStreet lowered MarineMax from a b rating to a c+ rating in a research report on Wednesday, July 26th. Finally, B. Riley reissued a buy rating and issued a $20.00 target price on shares of MarineMax in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. MarineMax has an average rating of Buy and an average target price of $22.86.
MarineMax (NYSE HZO) traded up 0.94% during midday trading on Thursday, hitting $16.10. 308,949 shares of the company’s stock traded hands. MarineMax has a 52 week low of $13.80 and a 52 week high of $23.65. The company has a 50 day moving average of $16.30 and a 200-day moving average of $19.40. The company has a market capitalization of $390.84 million, a PE ratio of 16.10 and a beta of 1.00.
MarineMax (NYSE:HZO) last released its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.11. The business had revenue of $329.80 million for the quarter, compared to analyst estimates of $383.01 million. MarineMax had a return on equity of 7.53% and a net margin of 2.45%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 EPS. Equities research analysts predict that MarineMax will post $0.99 earnings per share for the current year.
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MarineMax declared that its board has authorized a stock buyback program on Wednesday, August 2nd that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other MarineMax news, Director Dean S. Woodman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the transaction, the director now owns 15,193 shares of the company’s stock, valued at approximately $227,895. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of HZO. Teachers Advisors LLC increased its position in shares of MarineMax by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 44,896 shares of the specialty retailer’s stock valued at $869,000 after buying an additional 1,498 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of MarineMax during the first quarter valued at approximately $214,000. Acadian Asset Management LLC acquired a new position in shares of MarineMax during the first quarter valued at approximately $364,000. Wells Fargo & Company MN increased its position in shares of MarineMax by 0.8% in the first quarter. Wells Fargo & Company MN now owns 109,747 shares of the specialty retailer’s stock valued at $2,376,000 after buying an additional 913 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of MarineMax by 6.3% in the first quarter. Great West Life Assurance Co. Can now owns 36,134 shares of the specialty retailer’s stock valued at $781,000 after buying an additional 2,133 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.
MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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