July Boat Sales Surge 18% - SunTrust Robinson Humphrey (BC) (HZO)

August 19, 2013 3:22 PM EDT
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Price: $55.65 +1.24%

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    14 Buy, 2 Hold, 0 Sell

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    Up: 19 | Down: 19 | New: 13
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2013 boat season ended on a high note, according to SunTrust Robinson Humphrey analyst Michael Swartz, which is a positive for Buy-rated Brunswick Corp (NYSE: BC) and MarineMax Inc. (NYSE: HZO).

Data from Statistical Surveys showed powerboat sales rose a strong 18% during July, its single be monthly gain since late 2012.

"Clearly, normalized weather played a role, but this was much better than we had anticipated, particularly in light of the tough YoY comp (+21%)," Swartz said.

He added, "The strength was broad-based with nearly every major category posting double-digit unit growth. Among the high-volume segments, Pontoon (+25%), Fiberglass outboard (+23%) and aluminum fishing (+20%) posted the strongest gains, and we were pleased to see cruisers (+11%) accelerate. Bowrider/deck boats continue to be an area of concern; down 8% in July and 13% YTD. "

For an analyst ratings summary and ratings history on Brunswick Corp click here. For more ratings news on Brunswick Corp click here.

Shares of Brunswick Corp closed at $36.38 yesterday.

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