OneWater Marine (NASDAQ:ONEW) Stock Price Expected to Rise, KeyCorp Analyst Says

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 objective boosted by investment analysts at KeyCorp from $16.00 to $17.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's target price would indicate a potential upside of 4.49% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Baird R W downgraded shares of OneWater Marine from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Robert W. Baird lowered their price target on shares of OneWater Marine from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Truist Financial cut their target price on OneWater Marine from $25.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $19.60.

OneWater Marine Stock Up 2.5%

ONEW traded up $0.40 on Friday, reaching $16.27. The company's stock had a trading volume of 71,627 shares, compared to its average volume of 154,862. The stock has a 50 day moving average of $14.59 and a two-hundred day moving average of $15.42. OneWater Marine has a fifty-two week low of $11.58 and a fifty-two week high of $26.77. The company has a quick ratio of 0.33, a current ratio of 1.20 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $265.36 million, a price-to-earnings ratio of -20.09 and a beta of 1.99.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.33). The company had revenue of $552.86 million during the quarter, compared to analysts' expectations of $532.01 million. OneWater Marine had a negative net margin of 0.61% and a positive return on equity of 0.45%. As a group, analysts forecast that OneWater Marine will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other OneWater Marine news, Director J Steven Roy purchased 5,001 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $12.22 per share, with a total value of $61,112.22. Following the completion of the acquisition, the director owned 25,761 shares in the company, valued at approximately $314,799.42. This represents a 24.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OneWater Marine

Several institutional investors have recently bought and sold shares of ONEW. BNP Paribas Financial Markets bought a new stake in shares of OneWater Marine in the 4th quarter worth approximately $29,000. GAMMA Investing LLC raised its position in OneWater Marine by 404.5% during the first quarter. GAMMA Investing LLC now owns 2,109 shares of the company's stock valued at $34,000 after buying an additional 1,691 shares during the period. AlphaQuest LLC increased its holdings in shares of OneWater Marine by 20.8% in 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. Wells Fargo & Company MN increased its stake in OneWater Marine by 27.0% in the 4th quarter. Wells Fargo & Company MN now owns 7,194 shares of the company's stock valued at $125,000 after buying an additional 1,529 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of OneWater Marine during the 4th quarter valued at $199,000. Institutional investors and hedge funds own 94.32% of the company's stock.

OneWater Marine Company Profile

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.