OneWater Marine Inc. (NASDAQ:ONEW) Receives Average Recommendation of "Hold" from Brokerages

OneWater Marine Inc. (NASDAQ:ONEW - Get Free Report) has been assigned an average rating of "Hold" from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $19.40.

Several brokerages have recently issued reports on ONEW. Robert W. Baird lowered their target price on shares of OneWater Marine from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Friday. Truist Financial reduced their price target on shares of OneWater Marine from $25.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Baird R W lowered OneWater Marine from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. KeyCorp reduced their target price on OneWater Marine from $22.00 to $16.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Stifel Nicolaus dropped their price target on OneWater Marine from $31.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th.

Insider Buying and Selling

In other news, CEO Philip Austin Jr. Singleton purchased 15,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $15.40 per share, for a total transaction of $231,000.00. Following the completion of the purchase, the chief executive officer now directly owns 682,368 shares in the company, valued at $10,508,467.20. The trade was a 2.25 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 20.30% of the company's stock.

Hedge Funds Weigh In On OneWater Marine

A number of large investors have recently modified their holdings of ONEW. Royce & Associates LP grew its holdings in OneWater Marine by 13.2% during the fourth quarter. Royce & Associates LP now owns 1,853,788 shares of the company's stock worth $32,219,000 after acquiring an additional 216,410 shares during the period. American Century Companies Inc. boosted its position in shares of OneWater Marine by 1.8% during the 4th quarter. American Century Companies Inc. now owns 1,676,270 shares of the company's stock worth $29,134,000 after purchasing an additional 29,468 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of OneWater Marine by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 470,987 shares of the company's stock worth $8,186,000 after purchasing an additional 3,508 shares during the period. Geode Capital Management LLC grew its stake in shares of OneWater Marine by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 296,285 shares of the company's stock worth $5,150,000 after purchasing an additional 2,454 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of OneWater Marine by 14.0% in the 4th quarter. Sei Investments Co. now owns 229,506 shares of the company's stock valued at $3,989,000 after purchasing an additional 28,164 shares in the last quarter. 94.32% of the stock is owned by hedge funds and other institutional investors.

OneWater Marine Stock Down 8.7 %

Shares of ONEW stock traded down $1.19 on Tuesday, reaching $12.54. 438,333 shares of the stock were exchanged, compared to its average volume of 116,852. The company has a market capitalization of $204.57 million, a price-to-earnings ratio of -17.42 and a beta of 2.33. The company has a current ratio of 1.24, a quick ratio of 0.25 and a debt-to-equity ratio of 1.08. The business's 50 day moving average price is $15.31 and its 200 day moving average price is $18.10. OneWater Marine has a twelve month low of $11.90 and a twelve month high of $31.36.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.12). The business had revenue of $483.52 million during the quarter, compared to analysts' expectations of $498.73 million. OneWater Marine had a negative net margin of 0.59% and a positive return on equity of 3.09%. As a group, sell-side analysts expect that OneWater Marine will post 1.57 earnings per share 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.