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Fly News Breaks for October 30, 2019
HZO
Oct 30, 2019 | 07:50 EDT
As previously reported, Longbow analyst David MacGregor downgraded MarineMax to Neutral from Buy citing "slowing fundamentals" following the company's Q4 results. He is concerned that 2020 could be a "pause-year" for the recreational marine business and that destocking in the channel could lead to "irrational discounting by competitors" and promotions that threaten margins, MacGregor told investors in his downgrade note. If retail demand improves, he would not hesitate to become more constructive, the analyst added.
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