OneWater Marine (NASDAQ:ONEW) Rating Increased to Hold at Zacks Research

Key Points

• OneWater Marine has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, while KeyCorp has raised its target price to $17.00, reflecting positive sentiment among some analysts.
• The company reported a missed earnings estimate for the last quarter, posting $0.79 EPS against a consensus expectation of $1.12, although revenue exceeded analysts' expectations.
• Insider trading activity includes CEO Philip Austin Jr. Singleton purchasing shares, while Director John Troiano sold a significant number of shares, indicating varied confidence levels among company leadership.

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

Separately, KeyCorp boosted their target price on shares of OneWater Marine from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, OneWater Marine currently has an average rating of "Hold" and a consensus price target of $19.60.

OneWater Marine Stock Down 3.4%

ONEW stock opened at $15.84 on Monday. The stock has a market capitalization of $259.30 million, a P/E ratio of -19.56 and a beta of 1.99. The firm has a 50-day simple moving average of $16.19 and a 200-day simple moving average of $15.12. The company has a quick ratio of 0.37, a current ratio of 1.23 and a debt-to-equity ratio of 0.97. OneWater Marine has a 52 week low of $11.58 and a 52 week high of $26.77.

OneWater Marine (NASDAQ:ONEW - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.33). The company had revenue of $552.86 million for the quarter, compared to analysts' expectations of $532.01 million. OneWater Marine had a positive return on equity of 0.45% and a negative net margin of 0.61%. 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.

Insider Transactions at OneWater Marine

In other OneWater Marine news, CEO Philip Austin Jr. Singleton purchased 3,654 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were purchased at an average cost of $15.37 per share, for a total transaction of $56,161.98. Following the completion of the transaction, the chief executive officer owned 712,244 shares of the company's stock, valued at $10,947,190.28. The trade was a 0.52% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Troiano sold 15,041 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $17.35, for a total transaction of $260,961.35. Following the transaction, the director owned 52,226 shares in the company, valued at $906,121.10. The trade was a 22.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 20.30% of the company's stock.

Hedge Funds Weigh In On OneWater Marine

Several institutional investors and hedge funds have recently bought and sold shares of the company. AlphaQuest LLC boosted its holdings in 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 last quarter. BNP Paribas Financial Markets acquired a new position in OneWater Marine in the 4th quarter valued at about $29,000. GAMMA Investing LLC boosted its holdings in OneWater Marine by 404.5% in the 1st quarter. GAMMA Investing LLC now owns 2,109 shares of the company's stock valued at $34,000 after purchasing an additional 1,691 shares during the last quarter. Bank of America Corp DE boosted its holdings in OneWater Marine by 23.3% in the 4th 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 last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in OneWater Marine by 4.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 123,400 shares of the company's stock valued at $1,652,000 after purchasing an additional 5,045 shares during the last quarter. 94.32% of the stock is currently owned by institutional investors and hedge funds.

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.

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