OneWater Marine (NASDAQ:ONEW) Cut to Strong Sell at Zacks Research

Key Points

• OneWater Marine was downgraded from a "hold" rating to a "strong sell" rating by Zacks Research, indicating a bearish outlook for the stock.
• Shares of OneWater Marine opened at $17.08, with a recent 12-month high of $26.77 and a low of $11.58, highlighting significant volatility in the stock's performance.
• The company reported earnings of $0.79 per share, missing the consensus estimate of $1.12, suggesting challenges in meeting investor expectations.

OneWater Marine (NASDAQ:ONEW - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Robert W. Baird cut their price target on OneWater Marine from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. KeyCorp upped their price objective on OneWater Marine from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.60.

OneWater Marine Trading Down 0.8%

Shares of ONEW opened at $17.08 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.23 and a quick ratio of 0.37. OneWater Marine has a 12 month low of $11.58 and a 12 month high of $26.77. The stock's 50-day moving average is $15.18 and its two-hundred day moving average is $15.37. The stock has a market cap of $279.60 million, a PE ratio of -21.09 and a beta of 1.99.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.33). OneWater Marine had a positive return on equity of 0.45% and a negative net margin of 0.61%.The business had revenue of $552.86 million during the quarter, compared to analyst estimates of $532.01 million. OneWater Marine has set its FY 2025 guidance at 0.500-0.750 EPS. Equities analysts forecast that OneWater Marine will post 1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OneWater Marine

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in OneWater Marine in the fourth quarter worth approximately $29,000. GAMMA Investing LLC lifted its position in OneWater Marine by 404.5% in the first quarter. GAMMA Investing LLC now owns 2,109 shares of the company's stock worth $34,000 after purchasing an additional 1,691 shares during the period. AlphaQuest LLC lifted its position in shares of 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 acquiring an additional 1,392 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of OneWater Marine by 27.0% during the 4th quarter. Wells Fargo & Company MN now owns 7,194 shares of the company's stock valued at $125,000 after acquiring an additional 1,529 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of OneWater Marine during the 4th quarter valued at $199,000. 94.32% of the stock is currently owned by institutional investors and hedge funds.

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.

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