OneWater Marine Inc. (NASDAQ:ONEW) Receives $17.00 Consensus Target Price from Analysts

OneWater Marine Inc. (NASDAQ:ONEW) has received a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $17.00.

A number of analysts recently commented on ONEW shares. Zacks Research upgraded shares of OneWater Marine from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of OneWater Marine in a research note on Thursday, January 22nd.

OneWater Marine Trading Up 3.1%

Shares of ONEW opened at $8.65 on Friday. OneWater Marine has a twelve month low of $8.12 and a twelve month high of $18.15. The stock’s fifty day simple moving average is $12.03 and its 200 day simple moving average is $13.15. The firm has a market capitalization of $143.68 million, a P/E ratio of -1.28 and a beta of 1.68. The company has a current ratio of 1.13, a quick ratio of 0.26 and a debt-to-equity ratio of 1.18.

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

Insider Transactions at OneWater Marine

In related news, Chairman Philip Austin Jr. Singleton bought 18,008 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was bought 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. The trade was a 2.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.50% of the stock is owned by corporate insiders.

Institutional Trading of OneWater Marine

A number of hedge funds and other institutional investors have recently made changes to their positions in ONEW. American Century Companies Inc. grew its stake in shares of OneWater Marine by 3.6% in the third quarter. American Century Companies Inc. now owns 2,040,568 shares of the company’s stock valued at $32,323,000 after buying an additional 71,026 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of OneWater Marine by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 706,260 shares of the company’s stock worth $11,187,000 after acquiring an additional 8,465 shares in the last quarter. Private Management Group Inc. raised its stake in OneWater Marine by 2.1% during the second quarter. Private Management Group Inc. now owns 595,511 shares of the company’s stock worth $7,974,000 after acquiring an additional 12,504 shares in the last quarter. Dimensional Fund Advisors LP grew its position in OneWater Marine by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 549,856 shares of the company’s stock worth $8,710,000 after acquiring an additional 2,378 shares during the last quarter. Finally, General Equity Holdings LP raised its stake in shares of OneWater Marine by 17.9% during the second quarter. General Equity Holdings LP now owns 470,246 shares of the company’s stock valued at $6,297,000 after acquiring an additional 71,435 shares during the last quarter. 94.32% of the stock is currently owned by institutional investors and hedge funds.

About OneWater Marine

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.