OneWater Marine Inc. (NASDAQ:ONEW) Receives Average Recommendation of “Hold” from Analysts

OneWater Marine Inc. (NASDAQ:ONEW) has earned an average recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.00.

ONEW has been the topic of several recent analyst reports. Zacks Research upgraded shares of OneWater Marine from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. KeyCorp cut their target price on OneWater Marine from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of OneWater Marine in a report on Thursday, January 22nd. Finally, Benchmark reissued a “hold” rating on shares of OneWater Marine in a research note on Friday, November 14th.

Insider Buying and Selling

In related news, Chairman Philip Austin Jr. Singleton purchased 18,008 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was purchased at an average cost of $12.52 per share, with a total value of $225,460.16. Following the completion of the purchase, the chairman owned 779,776 shares in the company, valued at approximately $9,762,795.52. This trade represents a 2.36% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 19.50% of the company’s stock.

Institutional Trading of OneWater Marine

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in OneWater Marine by 94.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,872 shares of the company’s stock worth $45,000 after buying an additional 1,395 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of OneWater Marine during the fourth quarter valued at approximately $82,000. AlphaQuest LLC raised its position in shares of OneWater Marine by 20.8% during the second quarter. AlphaQuest LLC now owns 8,097 shares of the company’s stock worth $108,000 after purchasing an additional 1,392 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of OneWater Marine by 50.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,129 shares of the company’s stock worth $129,000 after purchasing an additional 2,710 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in OneWater Marine in the 3rd quarter valued at $192,000. 94.32% of the stock is currently owned by institutional investors and hedge funds.

OneWater Marine Trading Down 6.6%

Shares of ONEW stock opened at $11.39 on Monday. OneWater Marine has a 1-year low of $10.14 and a 1-year high of $18.15. The company has a current ratio of 1.13, a quick ratio of 0.26 and a debt-to-equity ratio of 1.18. The stock has a market cap of $189.19 million, a price-to-earnings ratio of -1.69 and a beta of 1.68. The stock has a 50-day moving average of $12.51 and a 200-day moving average of $13.92.

OneWater Marine (NASDAQ:ONEW) last released its quarterly earnings results on Thursday, January 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.35. The firm had revenue of $380.56 million during the quarter, compared to analyst estimates of $380.32 million. OneWater Marine had a negative net margin of 5.88% and a positive return on equity of 4.32%. On average, equities research analysts forecast that OneWater Marine will post 1.57 earnings per share for the current year.

OneWater Marine Company Profile

OneWater Marine Inc (NASDAQ: ONEW) is a leading U.S.-based recreational boat retailer offering a comprehensive range of marine products and services. Since its public debut in 2018, the company has built a broad network of locations that serve both coastal and inland markets. OneWater Marine focuses on delivering a full-service customer experience, from initial boat selection to long-term maintenance and support.

Through its dealership network, OneWater Marine markets new and pre-owned powerboats and personal watercraft from top manufacturers.