Truist Financial Issues Pessimistic Forecast for MarineMax (NYSE:HZO) Stock Price

MarineMax (NYSE:HZO) had its price target decreased by Truist Financial from $38.00 to $26.00 in a research note published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer’s stock.

A number of other analysts also recently issued reports on HZO. DA Davidson cut their target price on MarineMax from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of MarineMax in a research report on Friday, January 24th. B. Riley raised shares of MarineMax to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, StockNews.com raised shares of MarineMax from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $38.50.

MarineMax Price Performance

Shares of NYSE HZO opened at $18.09 on Monday. The firm has a 50-day simple moving average of $23.58 and a 200-day simple moving average of $27.91. The company has a quick ratio of 0.24, a current ratio of 1.19 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $410.77 million, a price-to-earnings ratio of 7.60 and a beta of 1.83. MarineMax has a 52 week low of $16.85 and a 52 week high of $38.20.

MarineMax (NYSE:HZO) last released its earnings results on Thursday, January 23rd. The specialty retailer reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.31. MarineMax had a net margin of 2.33% and a return on equity of 4.96%. On average, equities analysts predict that MarineMax will post 2.41 earnings per share for the current fiscal year.

Insider Transactions at MarineMax

In other MarineMax news, CAO Anthony E. Jr. Cassella sold 4,000 shares of MarineMax stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $31.06, for a total value of $124,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,451 shares of the company’s stock, valued at $355,668.06. The trade was a 25.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Clint Moore sold 4,100 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $30.63, for a total transaction of $125,583.00. Following the completion of the transaction, the director now directly owns 23,560 shares of the company’s stock, valued at approximately $721,642.80. The trade was a 14.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

Institutional Trading of MarineMax

A number of large investors have recently modified their holdings of HZO. SG Americas Securities LLC purchased a new stake in MarineMax during the 1st quarter worth about $726,000. GAMMA Investing LLC grew its position in shares of MarineMax by 3,886.6% during the first quarter. GAMMA Investing LLC now owns 23,242 shares of the specialty retailer’s stock worth $500,000 after buying an additional 22,659 shares in the last quarter. Squarepoint Ops LLC raised its holdings in MarineMax by 43.8% in the fourth quarter. Squarepoint Ops LLC now owns 117,193 shares of the specialty retailer’s stock valued at $3,393,000 after acquiring an additional 35,697 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of MarineMax by 46.5% in the 4th quarter. Two Sigma Investments LP now owns 16,300 shares of the specialty retailer’s stock valued at $472,000 after purchasing an additional 5,177 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC raised its stake in MarineMax by 105.8% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 13,376 shares of the specialty retailer’s stock valued at $387,000 after buying an additional 6,878 shares in the last quarter. Hedge funds and other institutional investors 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.