| Thursday | ||||
MarineMax is down -13.2%,… MarineMax is down -13.2%, or -$6.77 to $44.53. | ||||
Northcoast analyst… Northcoast analyst Brandon Rolle downgraded MarineMax to Neutral from Buy citing valuation. | ||||
Northcoast analyst… Northcoast analyst Brandon Rolle downgraded MarineMax to Neutral from Buy citing valuation. | ||||
| Over a month ago | ||||
B. Riley Securities… B. Riley Securities analyst Eric Wold raised the firm's price target on MarineMax to $51 from $45 and reiterates a Buy rating on the shares following the company's "beat and raise" quarter. The analyst says new boat demand and MarineMax's order backlog remain robust. | ||||
Reports Q1 revenue… Reports Q1 revenue $411.5M, consensus $387.48M. Q1 SSS grew over 20% driven by even greater growth in comparable new units sold of over 35%. The 20% same-store sales growth was on top of 24% growth in the comparable quarter last year. CEO Brett McGill stated, "We delivered record sales and earnings growth in the quarter on top of very strong performance a year ago as we continue to outperform by effectively executing on our balanced growth strategy. We grew market share as we drove 20% same-store-sales growth that was fueled by greater overall unit growth. (...) The meaningful margin expansion in the quarter was bolstered by growth in product margins, storage and service, Fraser Yachts and Northrop & Johnson, our global super yacht services businesses and our finance and insurance businesses. Our focus on driving margins and improving our cost structure continues to produce significant leverage in our operating model." | |
Truist analyst Michael… Truist analyst Michael Swartz raised the firm's price target on MarineMax to $52 from $44 and keeps a Buy rating on the shares as part of a broader research note on Recreational Vehicles. The analyst states that marine stocks could reflect continuing strong demand heading into FY21 and also believes that many of his coverage names could benefit from the supply-constrained industry backdrop. | |
MarineMax CFO Michael… MarineMax CFO Michael McLamb disclosed that he had sold 10,000 shares of company stock at $41.19 per share between January 11 and January 12 for a total value of $411,880. | |
B. Riley Securities… B. Riley Securities analyst Eric Wold raised the firm's price target on MarineMax to $45 from $40 and keeps a Buy rating on the shares. With new boat registrations surging after the initial COVID-19 economic shutdowns, typical new boat replacement cycles disrupted, channel inventory levels remaining depleted and dealer order books extending out for at least a year, the extended selling season should drive better than expected production and shipment levels, Wold tells investors in a research note. Management teams were still conservative heading into the end of the year, which creates an attractive setup for "beats and raises" in the coming weeks, says the analyst. Wold thinks the "relatively-depressed" valuation multiples for the group will be "quickly" addressed. | |