B.Riley FBR analyst Eric Wold reiterated a Buy rating on Marinemax (HZO) today and set a price target of $30. The company’s shares closed on Friday at $21.23.
Wold wrote:
“We are revisiting MarineMax (HZO) following a catch-up call with management on Friday (11/30) and continued channel checks coming out of the start of the 2018/2019 boat show season. With impressive new boat demand from the Ft. Lauderdale Boat Show (with some key brand sales doubling Y/Y and others setting records), HZO management indicating outperformance at that boat show, system-wide inventory levels remaining healthy (and even too low in some instances), promotional activity staying tame across the board and with the discontinued Sea Ray models (helping margins), we see an attractive set-up for HZO heading into the core of the boat show season (which can drive up to 20% of annual sales) as well the heart of the 2019 selling season (where we remain optimistic that strong demand trends are likely to continue).”
According to TipRanks.com, Wold is a 2-star analyst with an average return of 0.3% and a 41.3% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Marinemax has an analyst consensus of Moderate Buy, with a price target consensus of $28.
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The company has a one-year high of $26.11 and a one-year low of $16.40. Currently, Marinemax has an average volume of 341.6K.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. Last month, Joseph Allen Watters, a Director at HZO sold 10,000 shares for a total of $220,800.
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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.
