Shares of MarineMax Inc (NYSE:HZO) reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $30.26 and last traded at $29.18, with a volume of 4754 shares trading hands. The stock had previously closed at $27.79.
The specialty retailer reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.86. MarineMax had a net margin of 3.06% and a return on equity of 11.02%. The company had revenue of $498.30 million during the quarter, compared to analysts’ expectations of $414.69 million. During the same period in the prior year, the company earned $0.84 earnings per share. The business’s quarterly revenue was up 29.9% compared to the same quarter last year.
HZO has been the subject of several research reports. SunTrust Banks increased their target price on shares of MarineMax from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 24th. B. Riley reiterated a “buy” rating and issued a $28.00 target price on shares of MarineMax in a research note on Wednesday, July 1st. Raymond James increased their target price on shares of MarineMax from $23.50 to $31.50 and gave the company an “outperform” rating in a research note on Friday. Northcoast Research reiterated a “buy” rating on shares of MarineMax in a research note on Wednesday. Finally, ValuEngine upgraded shares of MarineMax from a “strong sell” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $22.93.
In other news, Director Hilliard M. Eure sold 2,018 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $20.09, for a total transaction of $40,541.62. Following the completion of the sale, the director now owns 19,482 shares of the company’s stock, valued at $391,393.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael H. Mclamb sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $28.68, for a total transaction of $143,400.00. Following the sale, the chief financial officer now directly owns 97,840 shares of the company’s stock, valued at approximately $2,806,051.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,993 shares of company stock valued at $3,478,728. Corporate insiders own 4.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. WESPAC Advisors LLC acquired a new stake in shares of MarineMax in the second quarter valued at approximately $467,000. SG Americas Securities LLC acquired a new stake in shares of MarineMax in the second quarter valued at approximately $172,000. State Street Corp increased its holdings in shares of MarineMax by 10.6% in the first quarter. State Street Corp now owns 787,188 shares of the specialty retailer’s stock valued at $8,202,000 after purchasing an additional 75,570 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of MarineMax by 14.2% in the first quarter. Royal Bank of Canada now owns 93,690 shares of the specialty retailer’s stock valued at $975,000 after purchasing an additional 11,656 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its holdings in shares of MarineMax by 224.9% in the first quarter. State of Tennessee Treasury Department now owns 24,524 shares of the specialty retailer’s stock valued at $256,000 after purchasing an additional 16,976 shares in the last quarter. 83.16% of the stock is owned by institutional investors.
The company has a quick ratio of 0.25, a current ratio of 1.38 and a debt-to-equity ratio of 0.09. The firm has a market cap of $595.86 million, a price-to-earnings ratio of 15.50 and a beta of 1.85. The business’s fifty day moving average is $22.65 and its two-hundred day moving average is $17.32.
About MarineMax (NYSE:HZO)
MarineMax, Inc operates as a recreational boat and yacht retailer in the United States. The company sells new and used recreational boats, including pleasure boats, such as sport boats, sport cruisers, sport yachts, and other yachts; fishing boats; motor and convertible yachts; pontoon boats; fishing boats; ski boats; and jet boats.
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