Stifel Nicolaus Cuts MarineMax (NYSE:HZO) Price Target to $35.00

MarineMax (NYSE:HZO) had its price target dropped by investment analysts at Stifel Nicolaus from $37.00 to $35.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Stifel Nicolaus’ target price suggests a potential upside of 36.99% from the company’s current price.

Several other equities research analysts have also recently issued reports on HZO. Truist Financial dropped their target price on shares of MarineMax from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. DA Davidson restated a “buy” rating and issued a $34.00 target price on shares of MarineMax in a report on Friday, March 15th. Finally, StockNews.com cut shares of MarineMax from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.40.

MarineMax Stock Down 0.2 %

Shares of HZO traded down $0.05 on Friday, hitting $25.55. 179,670 shares of the stock traded hands, compared to its average volume of 328,932. The company has a market capitalization of $569.77 million, a PE ratio of 6.31 and a beta of 1.69. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.35 and a current ratio of 1.28. The business has a 50 day simple moving average of $30.32 and a 200 day simple moving average of $31.48. MarineMax has a one year low of $22.51 and a one year high of $42.88.

MarineMax (NYSE:HZO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.55). The firm had revenue of $582.90 million for the quarter, compared to the consensus estimate of $590.19 million. MarineMax had a net margin of 3.75% and a return on equity of 10.44%. MarineMax’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $1.23 EPS. As a group, equities analysts forecast that MarineMax will post 3.33 earnings per share for the current fiscal year.

Insider Transactions at MarineMax

In other news, EVP Charles A. Cashman sold 7,500 shares of MarineMax stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total transaction of $223,200.00. Following the transaction, the executive vice president now owns 63,981 shares in the company, valued at approximately $1,904,074.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Clint Moore sold 4,000 shares of MarineMax stock in a transaction on Monday, March 11th. The shares were sold at an average price of $31.12, for a total transaction of $124,480.00. Following the transaction, the director now owns 20,544 shares in the company, valued at approximately $639,329.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Charles A. Cashman sold 7,500 shares of MarineMax stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $29.76, for a total transaction of $223,200.00. Following the transaction, the executive vice president now owns 63,981 shares in the company, valued at approximately $1,904,074.56. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of MarineMax

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp increased its holdings in MarineMax by 442.3% in the 3rd quarter. Fifth Third Bancorp now owns 770 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 628 shares during the last quarter. Spire Wealth Management increased its holdings in MarineMax by 58.3% in the 3rd quarter. Spire Wealth Management now owns 1,496 shares of the specialty retailer’s stock valued at $49,000 after acquiring an additional 551 shares during the last quarter. Bfsg LLC bought a new stake in MarineMax in the 4th quarter valued at $133,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MarineMax by 25.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the specialty retailer’s stock valued at $135,000 after acquiring an additional 696 shares during the last quarter. Finally, Arizona State Retirement System bought a new stake in MarineMax in the 4th quarter valued at $214,000. 92.85% of the stock is currently owned by institutional investors.

About MarineMax

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.