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

Shares of OneWater Marine Inc. (NASDAQ:ONEW) have been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $19.80.

A number of research firms have weighed in on ONEW. Zacks Research lowered shares of OneWater Marine from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of OneWater Marine in a research report on Wednesday, October 8th. Benchmark reissued a “hold” rating on shares of OneWater Marine in a research note on Friday. Truist Financial upped their target price on OneWater Marine from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, KeyCorp dropped their target price on shares of OneWater Marine from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday.

Insiders Place Their Bets

In other OneWater Marine news, CEO Philip Austin Jr. Singleton purchased 3,654 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The shares were acquired at an average price of $15.37 per share, with a total value of $56,161.98. Following the transaction, the chief executive officer owned 712,244 shares in the company, valued at $10,947,190.28. The trade was a 0.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Troiano sold 15,041 shares of OneWater Marine stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $17.35, for a total value of $260,961.35. Following the transaction, the director owned 52,226 shares of the company’s stock, valued at $906,121.10. This trade represents a 22.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 20.30% of the stock is owned by company insiders.

Institutional Trading of OneWater Marine

A number of large investors have recently added to or reduced their stakes in the stock. Crestwood Advisors Group LLC purchased a new position in OneWater Marine during the 1st quarter valued at about $625,000. Royce & Associates LP boosted its position in 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 buying an additional 146,798 shares during the period. 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 buying an additional 53,019 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of OneWater Marine by 112.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 88,710 shares of the company’s stock worth $1,435,000 after buying an additional 46,920 shares during the period. Finally, Nuveen LLC purchased a new position in shares of OneWater Marine in the first quarter worth about $529,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.

OneWater Marine Trading Down 4.6%

Shares of OneWater Marine stock opened at $13.24 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.37 and a current ratio of 1.23. The firm has a 50-day moving average of $15.56 and a 200-day moving average of $15.20. OneWater Marine has a 52-week low of $11.58 and a 52-week high of $23.00. The stock has a market cap of $216.74 million, a PE ratio of -1.87 and a beta of 1.88.

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.