MarineMax (HZO) Meets Expectations as Comps Slow - Wolfe

Wolfe Research analyst Greg Badishkanian reiterated an Outperform rating and $39.00 price target on MarineMax (NYSE: HZO) after the company reported strong results for its December-end quarter and raised full-year SSS and EPS guidance. F’1Q SSS growth of +20%, was in-line with consensus expectations, decelerating from last quarter’s very strong +33% comp. Adjusted EPS came in at $1.04, which more than doubled y/y, and far exceeded consensus of $0.61.

The analyst stated "Retail trends remain strong—January SSS should be positive—and the company
now expects industry-wide retail to be up mid-single digit for the year (vs low-single / mid-single previously). With shares up more than +30% year-to-date, expectations were likely elevated, and the company didn’t flow through all of the F’1Q beat; we think the underlying margin assumptions included in the guidance will likely prove conservative".

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

Shares of MarineMax closed at $43.07 yesterday.

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