Brokerages Set OneWater Marine Inc. (NASDAQ:ONEW) Target Price at $19.40

Shares of OneWater Marine Inc. (NASDAQ:ONEW) have been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $19.40.

ONEW has been the subject of several recent research reports. Truist Financial dropped their price target on shares of OneWater Marine from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Baird R W lowered shares of OneWater Marine from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Robert W. Baird dropped their price target on shares of OneWater Marine from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Finally, KeyCorp dropped their price target on shares of OneWater Marine from $22.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th.

Insiders Place Their Bets

In other news, Director J Steven Roy acquired 5,001 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $12.22 per share, with a total value of $61,112.22. Following the completion of the purchase, the director now owns 25,761 shares of the company’s stock, valued at $314,799.42. This represents a 24.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Philip Austin Jr. Singleton acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $15.40 per share, for a total transaction of $231,000.00. Following the completion of the purchase, the chief executive officer now directly owns 682,368 shares of the company’s stock, valued at approximately $10,508,467.20. The trade was a 2.25% increase in their position. The disclosure for this purchase can be found here. Insiders own 20.30% of the company’s stock.

Institutional Trading of OneWater Marine

Several hedge funds have recently modified their holdings of the stock. Royce & Associates LP grew its stake in shares of OneWater Marine by 7.9% during the first quarter. Royce & Associates LP now owns 2,000,586 shares of the company’s stock valued at $32,369,000 after purchasing an additional 146,798 shares during the last quarter. American Century Companies Inc. grew its stake in shares of OneWater Marine by 1.9% during the first quarter. American Century Companies Inc. now owns 1,707,997 shares of the company’s stock valued at $27,635,000 after purchasing an additional 31,727 shares during the last quarter. Private Management Group Inc. grew its stake in shares of OneWater Marine by 10.0% during the first quarter. Private Management Group Inc. now owns 583,007 shares of the company’s stock valued at $9,433,000 after purchasing an additional 53,019 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of OneWater Marine by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 470,987 shares of the company’s stock valued at $8,186,000 after purchasing an additional 3,508 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of OneWater Marine by 40.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 455,320 shares of the company’s stock valued at $7,367,000 after purchasing an additional 130,400 shares during the last quarter. 94.32% of the stock is owned by institutional investors.

OneWater Marine Stock Performance

NASDAQ ONEW opened at $13.82 on Friday. OneWater Marine has a twelve month low of $11.58 and a twelve month high of $31.36. The company has a quick ratio of 0.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. The stock has a market cap of $225.45 million, a P/E ratio of -19.19 and a beta of 2.15. The company’s 50-day simple moving average is $14.53 and its 200 day simple moving average is $17.06.

OneWater Marine (NASDAQ:ONEW) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.12). OneWater Marine had a positive return on equity of 3.09% and a negative net margin of 0.59%. The business had revenue of $483.52 million during the quarter, compared to analyst estimates of $498.73 million. As a group, research analysts forecast that OneWater Marine will post 1.57 earnings per share for the current fiscal 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.