HZO - MarineMax: Spotty Fundamentals Raise Concerns Over Future Performance
2024-01-31 13:36:51 ET
Summary
- MarineMax takes advantage of industry fragmentation through acquisitions.
- Explosion in interest rate expense poses a risk to the company.
- Spotty fundamentals, including declining same store sales and inventory turnover, raise concerns about future performance of MarineMax stock. Read here for more.
A little more than 8 years ago, I wrote an article detailing issues surrounding the fundamentals of recreational boating company MarineMax (HZO). After taking a more recent look at the company, I saw where some issues remain, and some have gotten worse. Moreover, MarineMax’s stock price underperformed, returning 48.38% versus 172.5% for the S&P 500 since November 25, 2015 (see chart below)....
MarineMax: Spotty Fundamentals Raise Concerns Over Future Performance