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MarineMax (HZO) Surges 27.0%: Is This an Indication of Further Gains?

Zacks Equity Research
·2 min read

MarineMax HZO shares ended the last trading session 27% higher at $36.17. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.4% gain over the past four weeks.

Shares of MarineMax rallied following media reports that the company has received a buyout offer from OneWater Marine.

This recreational boat dealer is expected to post quarterly earnings of $1.43 per share in its upcoming report, which represents a year-over-year change of -30.9%. Revenues are expected to be $727.22 million, up 0.8% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For MarineMax, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HZO going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

MarineMax belongs to the Zacks Retail - Miscellaneous industry. Another stock from the same industry, Tractor Supply (TSCO), closed the last trading session 6.2% lower at $267.56. Over the past month, TSCO has returned 5.6%.

For Tractor Supply , the consensus EPS estimate for the upcoming report has changed +0.1% over the past month to $3.94. This represents a change of +2.9% from what the company reported a year ago. Tractor Supply currently has a Zacks Rank of #2 (Buy).

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MarineMax, Inc. (HZO) : Free Stock Analysis Report

Tractor Supply Company (TSCO) : Free Stock Analysis Report

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Zacks Investment Research