B.Riley FBR Maintains Their Buy Rating on Marinemax (HZO)


In a report released today, Eric Wold from B.Riley FBR maintained a Buy rating on Marinemax (NYSE: HZO), with a price target of $27. The company’s shares opened today at $22.75.

Wold observed:

“Before the open on Tuesday (10/30), MarineMax (HZO) reported 4Q18 results that came in well ahead of our/consensus expectations even with somewhat of a cautious stance going into the print on potential hurricane impacts as well as potential delays in closing larger boats (neither of which clearly had an impact on the quarter). We continue to believe the industry is well positioned heading into 2019 with strong underlying boat demand (e.g., higher ASPs, more engines per boat, improving technological draws, etc.), healthy dealer inventory levels, and minimal promotional activity. And with Brunswick’s (BC) decision to maintain a scaled-down version of the Sea Ray brand, we believe this will benefit HZO in the long run. We stand by our decision to upgrade HZO to and reiterate that Buy rating and $27 PT.”

According to TipRanks.com, Wold is a 4-star analyst with an average return of 6.9% and a 48.8% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Marinemax with a $29 average price target, implying a 27.5% upside from current levels. In a report issued on October 26, IFS Securities, Inc also maintained a Buy rating on the stock with a $31 price target.

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Marinemax’s market cap is currently $427.1M and has a P/E ratio of 13.75. The company has a Price to Book ratio of 1.25.

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MarineMax, Inc. engages in the provision of boating-related activities. The firm sells used and new sport boats, sport cruisers, sport yachts, and fishing boats through retail stores. It also provides maintenance, repair, slip, and storage services. The company was founded in January 1998 and is headquartered in Clearwater, FL.

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