MarineMax (NYSE:HZO) Given New $35.00 Price Target at DA Davidson

MarineMax (NYSE:HZO) had its price target dropped by analysts at DA Davidson from $38.00 to $35.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. DA Davidson’s target price would suggest a potential upside of 24.14% from the company’s current price.

Several other equities analysts have also recently commented on HZO. StockNews.com cut MarineMax from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Benchmark assumed coverage on MarineMax in a research note on Tuesday, October 15th. They issued a “buy” rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

MarineMax Stock Performance

NYSE:HZO traded down $0.39 during mid-day trading on Wednesday, hitting $28.20. 34,179 shares of the company’s stock traded hands, compared to its average volume of 197,099. The firm has a market capitalization of $639.74 million, a price-to-earnings ratio of 17.09 and a beta of 1.89. The firm has a 50 day moving average of $29.67 and a two-hundred day moving average of $31.26. The company has a current ratio of 1.19, a quick ratio of 0.34 and a debt-to-equity ratio of 0.36. MarineMax has a 12 month low of $22.51 and a 12 month high of $38.20.

MarineMax (NYSE:HZO) last announced its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.06. The business had revenue of $563.10 million for the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. MarineMax’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the company posted $0.69 earnings per share. On average, equities analysts forecast that MarineMax will post 2.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MarineMax

Several institutional investors and hedge funds have recently made changes to their positions in the company. Oliver Luxxe Assets LLC acquired a new stake in shares of MarineMax in the 4th quarter valued at $1,316,000. JPMorgan Chase & Co. raised its holdings in shares of MarineMax by 8.4% in the third quarter. JPMorgan Chase & Co. now owns 11,705 shares of the specialty retailer’s stock valued at $413,000 after buying an additional 905 shares during the last quarter. XTX Topco Ltd bought a new position in shares of MarineMax in the third quarter valued at about $236,000. Systematic Financial Management LP bought a new position in shares of MarineMax in the third quarter valued at about $183,000. Finally, RBF Capital LLC raised its holdings in shares of MarineMax by 55.9% in the third quarter. RBF Capital LLC now owns 93,544 shares of the specialty retailer’s stock valued at $3,299,000 after buying an additional 33,544 shares during the last quarter. Institutional investors and hedge funds 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.