Analysts Set OneWater Marine Inc. (NASDAQ:ONEW) Target Price at $23.75

OneWater Marine Inc. (NASDAQ:ONEW - Get Free Report) has received an average rating of "Hold" from the seven analysts that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $22.60.

A number of analysts recently commented on ONEW shares. KeyCorp dropped their price objective on OneWater Marine from $27.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus cut their price objective on shares of OneWater Marine from $31.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Robert W. Baird reissued a "neutral" rating and set a $18.00 price objective (down previously from $25.00) on shares of OneWater Marine in a research note on Friday, April 4th. Baird R W cut shares of OneWater Marine from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Truist Financial reduced their price target on OneWater Marine from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th.

Insider Buying and Selling

In other news, CEO Philip Austin Jr. Singleton purchased 15,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $15.40 per share, with a total value of $231,000.00. Following the completion of the transaction, the chief executive officer now owns 682,368 shares in the company, valued at approximately $10,508,467.20. The trade was a 2.25 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 20.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OneWater Marine

Several hedge funds and other institutional investors have recently modified their holdings of ONEW. GAMMA Investing LLC raised its holdings in OneWater Marine by 8,063.6% in the first quarter. GAMMA Investing LLC now owns 34,124 shares of the company's stock valued at $552,000 after buying an additional 33,706 shares during the period. Mackenzie Financial Corp acquired a new position in shares of OneWater Marine during the 4th quarter valued at $394,000. Millennium Management LLC purchased a new stake in OneWater Marine during the 4th quarter worth $782,000. Bank of America Corp DE raised its position in OneWater Marine by 23.3% in the fourth quarter. Bank of America Corp DE now owns 16,296 shares of the company's stock valued at $283,000 after purchasing an additional 3,077 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of OneWater Marine during the fourth quarter worth about $29,000. 94.32% of the stock is owned by institutional investors and hedge funds.

OneWater Marine Price Performance

Shares of NASDAQ ONEW traded up $1.44 on Friday, hitting $14.34. The company's stock had a trading volume of 62,866 shares, compared to its average volume of 113,329. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 0.25. The stock has a 50 day moving average of $17.16 and a 200-day moving average of $19.20. OneWater Marine has a 12-month low of $12.28 and a 12-month high of $31.36. The company has a market capitalization of $233.91 million, a price-to-earnings ratio of -19.56 and a beta of 2.33.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported ($0.54) EPS for the quarter, beating analysts' consensus estimates of ($0.84) by $0.30. OneWater Marine had a positive return on equity of 3.09% and a negative net margin of 0.59%. As a group, research analysts predict that OneWater Marine will post 1.57 EPS for the current 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.