GARLAND, Texas - Massimo Group (NASDAQ: MAMO), a manufacturer and distributor of power sports vehicles, announced a new distribution agreement with Fleet Farm, a Midwestern retail chain. Under the partnership, six Massimo vehicle models will be available at Fleet Farm's 49 locations and online, catering to the outdoor and farming communities in the Midwest.
The products featured in this agreement include the T-BOSS 560 Sport UTV, Buck 250 UTV, MSA 210 ATV, MSA 450F ATV, Mini Bike 200S, and Mini 125 Go Kart. These vehicles are designed for a variety of uses, from farming and ranching to recreational activities.
Massimo's CEO, David Shan, stated, "This partnership reflects Massimo's continued expansion of our distribution network with major retailers." He also noted the strong demand for UTVs and ATVs in the U.S., driven by increased outdoor activities and utility vehicle use in farm work.
Fleet Farm, with a history spanning over 65 years, has established itself as a trusted retailer in the Midwest, providing a wide range of products and services for active, outdoor, suburban, and farm communities. The company's headquarters are located in Appleton, Wisconsin, with a distribution center in Chippewa Falls, Wisconsin.
Massimo's product lineup includes UTVs equipped with features such as ABS half doors, tilting windshields, and hardtop roofs. The T-BOSS 560 Sport UTV, for example, boasts a 493cc 33HP engine and a towing capacity of 1200 pounds. The Buck 250 UTV is highlighted for its compact size and standard full lighting kit. The ATVs offered by Massimo, such as the MSA 210 and MSA 450F, are marketed as cost-competitive and feature-rich, capable of handling tough terrain and heavy loads.
The youth series from Massimo includes the MB 200 Mini Bike and Mini 125 Go Kart, both designed for trail riding and neighborhood cruising, with features suitable for younger riders.
This distribution agreement aims to leverage Fleet Farm's established presence in the Midwest to expand Massimo's market reach.
he information is based on a press release statement.
InvestingPro Insights
Massimo Group's (NASDAQ: MAMO) recent distribution agreement with Fleet Farm is poised to leverage the company's innovative powersports vehicles across a broader market. As Massimo Group expands its presence, it's important for investors to note the company's financial health and stock performance. Here are some key insights from InvestingPro:
The company's stock has experienced a significant uptick, with a 45.51% price total return over the last six months, which is indicative of strong investor confidence following recent business developments. This is further supported by the stock trading at 93.99% of its 52-week high, suggesting a positive market sentiment towards Massimo Group's growth prospects.
From a financial standpoint, Massimo Group's revenue growth is robust, with the last twelve months as of Q4 2023 showing a 32.95% increase, which could be a reflection of the company's successful product lineup and strategic partnerships like the one with Fleet Farm. Additionally, the company's P/E ratio stands at 16.71, which, when compared to its near-term earnings growth, indicates that the stock is trading at a low P/E ratio relative to its earnings potential, as highlighted by one of the InvestingPro Tips.
Investors considering Massimo Group may also find it reassuring that the company operates with a moderate level of debt and has liquid assets that exceed short-term obligations, as per the InvestingPro Tips. This suggests a stable financial position that could support sustained growth.
For those interested in further insights, there are additional InvestingPro Tips available that can provide a deeper analysis of Massimo Group's performance and potential. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription and unlock these valuable tips.
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