Investment firm B. Riley has revised its price target for MarineMax (HZO, Financial), reducing it from $40 to $30. Despite this adjustment, the firm maintains a Buy rating on the company's shares following its fiscal second quarter report.
The update comes as investor attention turns towards emerging trends in the current quarter, influenced by uncertainties related to tariffs. B. Riley notes a deceleration in MarineMax's sales during April, projecting the month to close with a decline in same-store sales performance.
The decision to lower expectations is attributed to downgraded estimates and a reduced valuation multiple, reflecting the prevailing cautious market sentiment surrounding the stock.