OneWater Marine Inc. (NASDAQ:ONEW) Receives $19.40 Average Price Target from Brokerages

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

A number of equities analysts have recently issued reports on the company. Truist Financial dropped their target price on OneWater Marine from $25.00 to $16.00 and set a “buy” rating for the company in a report on Monday, April 14th. Robert W. Baird decreased their price target on OneWater Marine from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. KeyCorp decreased their price target on OneWater Marine from $22.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, Baird R W lowered OneWater Marine from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th.

Insider Buying and Selling at OneWater Marine

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, for a total transaction of $61,112.22. Following the transaction, the director now owns 25,761 shares of the company’s stock, valued at approximately $314,799.42. This represents a 24.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of OneWater Marine in the 1st quarter worth $4,053,000. Royce & Associates LP boosted its position in shares of OneWater Marine by 13.2% in the 4th quarter. Royce & Associates LP now owns 1,853,788 shares of the company’s stock worth $32,219,000 after purchasing an additional 216,410 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of OneWater Marine by 40.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 455,320 shares of the company’s stock worth $7,367,000 after purchasing an additional 130,400 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of OneWater Marine by 42.0% in the 4th quarter. Russell Investments Group Ltd. now owns 201,943 shares of the company’s stock worth $3,510,000 after purchasing an additional 59,753 shares during the last quarter. Finally, Private Management Group Inc. boosted its position in shares of OneWater Marine by 10.0% in the 1st quarter. Private Management Group Inc. now owns 583,007 shares of the company’s stock worth $9,433,000 after purchasing an additional 53,019 shares during the last quarter. 94.32% of the stock is currently owned by institutional investors.

OneWater Marine Trading Up 0.3%

Shares of ONEW opened at $13.84 on Wednesday. OneWater Marine has a 1 year low of $11.58 and a 1 year high of $31.00. The company has a current ratio of 1.20, a quick ratio of 0.33 and a debt-to-equity ratio of 1.05. The stock has a 50 day simple moving average of $14.19 and a 200-day simple moving average of $16.21. The stock has a market cap of $225.73 million, a PE ratio of -29.45 and a beta of 2.05.

OneWater Marine (NASDAQ:ONEW) last issued its earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.12). OneWater Marine had a positive return on equity of 1.09% and a negative net margin of 0.39%. The company had revenue of $483.52 million during the quarter, compared to analyst estimates of $498.73 million. On average, sell-side analysts predict that OneWater Marine will post 1.57 EPS 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.