MarineMax (NYSE:HZO) Downgraded by Longbow Research to “Neutral”

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MarineMax (NYSE:HZO) was downgraded by research analysts at Longbow Research from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, October 30th, Marketbeat.com reports.

A number of other research firms have also recently weighed in on HZO. Craig Hallum cut MarineMax from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. ValuEngine raised MarineMax from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Citigroup cut their price target on MarineMax from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Raymond James cut MarineMax from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 22nd. Finally, B. Riley set a $23.00 price objective on shares of MarineMax and gave the company a “buy” rating in a research note on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $20.08.

NYSE HZO traded down $0.41 during trading hours on Wednesday, reaching $16.54. The company’s stock had a trading volume of 151,234 shares, compared to its average volume of 294,971. The business has a 50-day simple moving average of $15.91 and a 200 day simple moving average of $15.92. MarineMax has a 52 week low of $13.73 and a 52 week high of $25.00. The stock has a market cap of $451.82 million, a PE ratio of 10.15 and a beta of 0.87.

MarineMax (NYSE:HZO) last issued its earnings results on Tuesday, October 29th. The specialty retailer reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. MarineMax had a net margin of 2.91% and a return on equity of 10.24%. The firm had revenue of $308.10 million for the quarter, compared to analysts’ expectations of $309.60 million. During the same quarter last year, the company posted $0.45 earnings per share. MarineMax’s revenue was down .2% on a year-over-year basis. As a group, sell-side analysts forecast that MarineMax will post 1.65 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System grew its position in MarineMax by 17.7% in the third quarter. California Public Employees Retirement System now owns 40,306 shares of the specialty retailer’s stock worth $624,000 after buying an additional 6,059 shares during the last quarter. State of Tennessee Treasury Department grew its position in MarineMax by 8.5% in the third quarter. State of Tennessee Treasury Department now owns 9,804 shares of the specialty retailer’s stock worth $152,000 after buying an additional 771 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in MarineMax by 15.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 57,550 shares of the specialty retailer’s stock worth $891,000 after buying an additional 7,800 shares during the last quarter. Rhumbline Advisers grew its position in MarineMax by 3.4% in the third quarter. Rhumbline Advisers now owns 82,710 shares of the specialty retailer’s stock worth $1,280,000 after buying an additional 2,729 shares during the last quarter. Finally, 6 Meridian acquired a new position in MarineMax in the third quarter worth approximately $245,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

About MarineMax

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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Analyst Recommendations for MarineMax (NYSE:HZO)

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