MarineMax benefiting from high-end focus

DENVER – MarineMax is “significantly outperforming in a generally weakening industry environment,” according to a new report from RBC Capital Markets analysts.

The analysts, which just returned from meetings with MarineMax executives Bill McGill and Mike McLamb, said part of the reason for the boat dealership chain’s strong results is its lack of presence in the entry-level market, where interest rates and gas prices are having the most significant impact.

The RBC analysts also indicated that MarineMax’s integration of its two most recent acquisitions – Surfside 3 and Port Arrowhead – seem to be on schedule.

“We believe the accretion assumptions behind management’s guidance are likely conservative, and we see potential for long-term synergies from these deals,” the analysts stated.

RBC, therefore, is continuing to rate the stock “Outperform with Above Average Risk,” stating that “an unexpected slowdown in industry growth, caused by rising interest rates or other factors, could impede achievement of our outlook …”

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