Analysts Set OneWater Marine Inc. (NASDAQ:ONEW) Target Price at $17.00

OneWater Marine Inc. (NASDAQ:ONEW) has been given a consensus recommendation of “Hold” by the six analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $17.00.

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of OneWater Marine from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of OneWater Marine in a research note on Thursday, January 22nd.

OneWater Marine Stock Up 0.7%

Shares of OneWater Marine stock opened at $9.74 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.13 and a quick ratio of 0.26. The company has a 50-day moving average of $10.51 and a 200 day moving average of $12.34. The firm has a market cap of $161.78 million, a price-to-earnings ratio of -1.45 and a beta of 1.69. OneWater Marine has a 1 year low of $8.12 and a 1 year high of $17.92.

OneWater Marine (NASDAQ:ONEW) last issued its quarterly earnings results on Thursday, January 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.35. The company had revenue of $380.56 million during the quarter, compared to analyst estimates of $380.32 million. OneWater Marine had a negative net margin of 5.88% and a positive return on equity of 4.32%. As a group, sell-side analysts anticipate that OneWater Marine will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In other OneWater Marine news, Chairman Philip Austin Jr. Singleton purchased 18,008 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average cost of $12.52 per share, for a total transaction of $225,460.16. Following the purchase, the chairman directly owned 779,776 shares in the company, valued at $9,762,795.52. The trade was a 2.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.50% of the stock is currently owned by insiders.

Institutional Trading of OneWater Marine

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in OneWater Marine by 94.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,872 shares of the company’s stock valued at $45,000 after purchasing an additional 1,395 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in OneWater Marine during the 4th quarter valued at about $82,000. JPMorgan Chase & Co. increased its stake in OneWater Marine by 50.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,129 shares of the company’s stock valued at $129,000 after purchasing an additional 2,710 shares in the last quarter. Man Group plc bought a new stake in OneWater Marine during the 4th quarter valued at about $139,000. Finally, Wells Fargo & Company MN increased its stake in OneWater Marine by 39.9% during the 4th quarter. Wells Fargo & Company MN now owns 12,973 shares of the company’s stock valued at $140,000 after purchasing an additional 3,701 shares in the last quarter. 94.32% of the stock is currently owned by institutional investors.

About OneWater Marine

OneWater Marine Inc (NASDAQ: ONEW) is a leading U.S.-based recreational boat retailer offering a comprehensive range of marine products and services. Since its public debut in 2018, the company has built a broad network of locations that serve both coastal and inland markets. OneWater Marine focuses on delivering a full-service customer experience, from initial boat selection to long-term maintenance and support.

Through its dealership network, OneWater Marine markets new and pre-owned powerboats and personal watercraft from top manufacturers.