Analysts Set OneWater Marine Inc. (NASDAQ:ONEW) Target Price at $19.60

Shares of OneWater Marine Inc. (NASDAQ:ONEW) have been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $19.60.

A number of brokerages have recently issued reports on ONEW. KeyCorp lifted their price target on OneWater Marine from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, August 1st. 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 report on Friday, May 2nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ONEW. American Century Companies Inc. grew its stake in OneWater Marine by 15.3% during the 2nd quarter. American Century Companies Inc. now owns 1,969,542 shares of the company’s stock worth $26,372,000 after buying an additional 261,545 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in OneWater Marine during the 1st quarter worth $4,053,000. Royce & Associates LP grew its stake in OneWater Marine by 7.9% during the 1st quarter. Royce & Associates LP now owns 2,000,586 shares of the company’s stock worth $32,369,000 after buying an additional 146,798 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in OneWater Marine by 40.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 455,320 shares of the company’s stock worth $7,367,000 after buying an additional 130,400 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in OneWater Marine by 66.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 251,048 shares of the company’s stock worth $3,362,000 after buying an additional 99,964 shares during the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

OneWater Marine Trading Up 6.6%

Shares of NASDAQ ONEW opened at $17.35 on Thursday. OneWater Marine has a twelve month low of $11.58 and a twelve month high of $26.77. The business has a fifty day simple moving average of $14.78 and a two-hundred day simple moving average of $15.42. The firm has a market cap of $284.02 million, a PE ratio of -21.42 and a beta of 1.99. 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 (NASDAQ:ONEW) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.33). OneWater Marine had a negative net margin of 0.61% and a positive return on equity of 0.45%. The company had revenue of $552.86 million during the quarter, compared to analysts’ expectations of $532.01 million. Analysts expect that OneWater Marine will post 1.57 earnings per share for the current fiscal year.

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.