MarineMax (NYSE:HZO) Shares Rise - Is It Time to Invest?

On Monday, shares of MarineMax, Inc. (NYSE:HZO) experienced a significant increase as they opened higher than their previous closing price. The stock, which had closed at $30.69, opened at $32.86 and was last seen trading at $32.47, with a trading volume of 29,761 shares.

Recent Analyst Ratings

Several analysts have recently provided updates regarding MarineMax shares. StockNews.com upgraded the company's rating from "sell" to "hold" as of December 9th. Benchmark initiated coverage on MarineMax, giving it a "buy" rating along with a price target of $40.00. Citigroup also raised its rating from "neutral" to "buy" and upped its price target from $40.00 to $44.00 in a report dated September 9th. Overall, one analyst rates the stock as a hold, while six recommend it as a buy. MarketBeat notes that the consensus rating is "Moderate Buy," with an average target price of $41.83.

Explore Our Detailed Report on MarineMax

MarineMax's Stock Performance

The company has demonstrated a current ratio of 1.19, a quick ratio of 0.34, and a debt-to-equity ratio of 0.36. MarineMax's 50-day moving average is $30.97, while its 200-day average stands at $32.11. With a market cap of $736.89 million, the stock has a PE ratio of 18.60 and a beta of 1.87.

MarineMax's last quarterly earnings report, announced on October 31st, revealed earnings per share (EPS) of $0.24, surpassing analysts' predictions of $0.18 by $0.06. However, revenue was reported at $563.10 million, missing the projected $576.49 million. The company also reported a net margin of 1.57% and a return on equity of 5.09%. Compared to the previous year, revenue has decreased by 5.3%, with last year’s EPS standing at $0.69. Analysts predict that MarineMax will achieve an average EPS of 2.33 for the current fiscal year.

Institutional Investors' Activity

Recently, large institutional investors have adjusted their holdings in MarineMax. Canada Pension Plan Investment Board acquired a new position valued at approximately $52,000 during the second quarter. Point72 Asia Singapore Pte. Ltd. entered with a new position worth about $67,000 in the third quarter. Another firm, Point72 Asset Management L.P., purchased shares worth about $143,000 during the same period. Additionally, Bfsg LLC increased its stake in MarineMax by 19.1%, owning 4,248 shares currently after acquiring an additional 681 shares. Systematic Financial Management LP also took a new position with an investment of about $183,000. Notably, institutional investors now own around 92.85% of the company's stock.

Overview of MarineMax

MarineMax, Inc. functions as a retailer for recreational boats and yachts, as well as providing superyacht services across the United States. The company operates through two segments: Retail Operations and Product Manufacturing. Its offerings include new and used recreational boats such as fishing boats, mega-yachts, sport cruisers, motor yachts, and more.

Investing Considerations

Before making any investment decisions, you should consider if MarineMax aligns with your portfolio goals. While the stock has a current "buy" rating, some analysts suggest that there may be other stocks that could be more beneficial at the moment.

MarketBeat continuously monitors leading analysts and the stocks they recommend to their clientele. At present, MarineMax is not among the five stocks identified as top recommendations.

To explore these five stocks that analysts are currently endorsing, you may want to investigate further.

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