KeyCorp Issues Positive Forecast for OneWater Marine (NASDAQ:ONEW) Stock Price

Key Points

• KeyCorp has raised its price target for OneWater Marine (NASDAQ:ONEW) from $16.00 to $17.00, indicating a potential upside of 13.86% from the stock's previous close.
• OneWater Marine recently reported earnings per share (EPS) of $0.13, missing the consensus estimate of $0.25, with a revenue of $483.52 million for the quarter.
• Institutional investors currently hold 94.32% of OneWater Marine's shares, highlighting significant institutional interest in the stock.

OneWater Marine (NASDAQ:ONEW - Get Free Report) had its price target lifted by research analysts at KeyCorp from $16.00 to $17.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price target would suggest a potential upside of 13.86% from the stock's previous close.

Several other equities research analysts also recently issued reports on ONEW. Baird R W downgraded OneWater Marine from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Robert W. Baird decreased their target price on 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, Truist Financial decreased their target price on OneWater Marine from $25.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, OneWater Marine has an average rating of "Hold" and an average price target of $19.60.

OneWater Marine Price Performance

ONEW stock opened at $14.93 on Friday. The company has a quick ratio of 0.33, a current ratio of 1.20 and a debt-to-equity ratio of 1.05. OneWater Marine has a 52-week low of $11.58 and a 52-week high of $26.77. The stock's 50 day moving average is $14.51 and its two-hundred day moving average is $15.42. The company has a market capitalization of $243.51 million, a PE ratio of -31.77 and a beta of 1.97.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last posted its quarterly earnings data 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 1.09% and a negative net margin of 0.39%. The business had revenue of $483.52 million for the quarter, compared to analysts' expectations of $498.73 million. Analysts predict that OneWater Marine will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at OneWater Marine

In related news, Director J Steven Roy acquired 5,001 shares of OneWater Marine stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $12.22 per share, for a total transaction of $61,112.22. Following the transaction, the director directly owned 25,761 shares of the company's stock, valued at $314,799.42. This trade represents a 24.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 20.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its position in OneWater Marine by 20.8% during the 2nd quarter. AlphaQuest LLC now owns 8,097 shares of the company's stock valued at $108,000 after purchasing an additional 1,392 shares during the period. Alpha Wealth Funds LLC acquired a new position in OneWater Marine during the 2nd quarter valued at approximately $266,000. Goldman Sachs Group Inc. boosted its position in OneWater Marine by 8.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 101,291 shares of the company's stock valued at $1,639,000 after purchasing an additional 7,659 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in OneWater Marine during the 1st quarter valued at approximately $4,053,000. Finally, AQR Capital Management LLC acquired a new position in OneWater Marine during the 1st quarter valued at approximately $345,000. Institutional investors and hedge funds own 94.32% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.