OneWater Marine Inc. (NASDAQ:ONEW) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of OneWater Marine Inc. (NASDAQ:ONEW) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $31.60.

A number of equities analysts have recently commented on the stock. KeyCorp cut their target price on shares of OneWater Marine from $34.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday. Stifel Nicolaus boosted their price target on OneWater Marine from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Truist Financial decreased their price objective on OneWater Marine from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Finally, DA Davidson reissued a “neutral” rating and issued a $27.00 target price on shares of OneWater Marine in a report on Friday, March 15th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Breach Inlet Capital Management LLC acquired a new position in shares of OneWater Marine during the 4th quarter worth $8,781,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of OneWater Marine by 1.0% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 399,030 shares of the company’s stock valued at $13,483,000 after purchasing an additional 3,770 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of OneWater Marine by 319.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,097 shares of the company’s stock valued at $71,000 after purchasing an additional 1,597 shares during the last quarter. Premier Fund Managers Ltd purchased a new position in shares of OneWater Marine during the 4th quarter worth approximately $621,000. Finally, Russell Investments Group Ltd. raised its position in shares of OneWater Marine by 17.2% during the 4th quarter. Russell Investments Group Ltd. now owns 112,831 shares of the company’s stock worth $3,813,000 after purchasing an additional 16,528 shares during the last quarter. 94.32% of the stock is owned by hedge funds and other institutional investors.

OneWater Marine Price Performance

Shares of ONEW opened at $22.68 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.27 and a quick ratio of 0.26. OneWater Marine has a 1-year low of $20.07 and a 1-year high of $39.15. The stock has a market cap of $362.29 million, a PE ratio of -3.98 and a beta of 2.55. The firm has a fifty day moving average price of $24.98 and a 200 day moving average price of $26.60.

OneWater Marine (NASDAQ:ONEW) last posted its earnings results on Thursday, February 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.08). The firm had revenue of $364.01 million during the quarter, compared to analysts’ expectations of $370.33 million. OneWater Marine had a negative net margin of 4.29% and a positive return on equity of 8.90%. As a group, sell-side analysts anticipate that OneWater Marine will post 3.58 EPS for the current year.

About OneWater Marine

OneWater Marine Inc operates as a recreational boat retailer in the United States. The company offers new and pre-owned recreational boats and yachts, as well as related marine products, such as parts and accessories. It provides boat repair and maintenance services. In addition, the company arranges boat financing and insurance; and other ancillary services, including indoor and outdoor storage, and marina services.