In a report released today, Michael Albanese from Benchmark Co. maintained a Buy rating on Marinemax (HZO – Research Report), with a price target of $40.00.
Michael Albanese has given his Buy rating due to a combination of factors that highlight Marinemax’s potential for growth and stability. Despite a challenging retail environment and disruptions from hurricanes, the company has shown resilience, particularly in its non-Florida operations where same-store sales growth remained stable. The company’s gross profit has improved significantly, driven by a favorable sales mix and higher-margin service businesses.
Furthermore, Marinemax’s financial health is underscored by its strong balance sheet and valuable alignment with industry leaders like Brunswick. The company’s valuation appears attractive, trading at a low multiple of forward earnings and EBITDA, with a promising free cash flow yield. Additionally, the superyacht division, catering to ultra-high-net-worth consumers, presents a significant growth opportunity. These factors collectively support the Buy rating, as the company is well-positioned to capitalize on its strengths and market opportunities.
Albanese covers the Consumer Cyclical sector, focusing on stocks such as Lithia Motors, Brunswick, and Marinemax. According to TipRanks, Albanese has an average return of -35.6% and a 12.05% success rate on recommended stocks.
In another report released on April 17, Citi also maintained a Buy rating on the stock with a $24.00 price target.