MarineMax, Inc. (HZO) Downgraded by Forward View to “Hold”
Forward View lowered shares of MarineMax, Inc. (NYSE:HZO) from a buy rating to a hold rating in a research report report published on Monday morning. Forward View also issued estimates for MarineMax’s Q4 2017 earnings at $0.11 EPS, FY2017 earnings at $0.90 EPS, Q4 2018 earnings at $0.19 EPS and FY2018 earnings at $1.13 EPS.
HZO has been the topic of several other research reports. BidaskClub cut shares of MarineMax from a hold rating to a sell rating in a research report on Tuesday, July 25th. Citigroup Inc. boosted their price target on shares of MarineMax from $18.00 to $20.00 and gave the company a buy rating in a research report on Monday, October 2nd. B. Riley reissued a buy rating and set a $19.75 price target on shares of MarineMax in a research report on Thursday, October 26th. Ifs Securities reissued a strong-buy rating and set a $20.00 price target on shares of MarineMax in a research report on Thursday, August 24th. Finally, TheStreet cut shares of MarineMax from a b rating to a c+ rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. MarineMax has a consensus rating of Buy and an average target price of $21.79.
Shares of MarineMax (NYSE:HZO) traded up 23.36% during midday trading on Monday, hitting $18.75. 980,134 shares of the stock traded hands. MarineMax has a 12-month low of $13.80 and a 12-month high of $23.65. The company’s 50 day moving average price is $16.36 and its 200-day moving average price is $17.53. The stock has a market cap of $455.18 million, a price-to-earnings ratio of 18.75 and a beta of 0.97.
MarineMax (NYSE:HZO) last announced its quarterly earnings results on Monday, October 30th. The specialty retailer reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $250.62 million for the quarter, compared to analysts’ expectations of $231.96 million. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. On average, equities research analysts expect that MarineMax will post $0.89 EPS for the current year.
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MarineMax announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In related news, Director Dean S. Woodman sold 3,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the sale, the director now directly owns 15,193 shares in the company, valued at approximately $227,895. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dean S. Woodman sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $16.00, for a total transaction of $40,000.00. Following the completion of the sale, the director now owns 14,693 shares in the company, valued at $235,088. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,500 shares of company stock worth $167,500. 5.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Eagle Asset Management Inc. raised its holdings in MarineMax by 4.6% in the 2nd quarter. Eagle Asset Management Inc. now owns 3,330,527 shares of the specialty retailer’s stock valued at $65,111,000 after buying an additional 146,127 shares during the period. Dimensional Fund Advisors LP raised its holdings in MarineMax by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,206,573 shares of the specialty retailer’s stock valued at $43,138,000 after buying an additional 9,452 shares during the period. Impala Asset Management LLC raised its holdings in MarineMax by 18.6% in the 2nd quarter. Impala Asset Management LLC now owns 1,795,759 shares of the specialty retailer’s stock valued at $35,107,000 after buying an additional 282,017 shares during the period. Vanguard Group Inc. raised its holdings in MarineMax by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,349,327 shares of the specialty retailer’s stock valued at $26,380,000 after buying an additional 53,443 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in MarineMax by 5.0% in the 2nd quarter. Macquarie Group Ltd. now owns 1,177,725 shares of the specialty retailer’s stock valued at $23,025,000 after buying an additional 56,596 shares during the period. Hedge funds and other institutional investors own 90.57% of the company’s stock.
MarineMax Company Profile
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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