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

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.

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).

5 Stocks Set to Double

Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

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

Tractor Supply Company (TSCO) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.