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Sun. Jul 14th, 2024

OneWater Marine Inc. (NASDAQ:ONEW) receives an average rating of “Moderate Buy” from analysts

By Vaseline May30,2024


Shares of OneWater Marine Inc. (NASDAQ:ONEW – Get Free Report) have received an average recommendation of “Moderate Buy” from the seven research firms that cover the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts who have updated their coverage of the stock in the past year is $31.60.

ONEW has been the subject of several analyst reports. Truist Financial lowered their target price on shares of OneWater Marine from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. KeyCorp lowered their price target on OneWater Marine from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, May 3. Benchmark initiated coverage on shares of OneWater Marine in a report on Wednesday, May 22nd. They have set a ‘hold’ rating on the stock. Finally, DA Davidson reiterated a “neutral” rating and issued a $27.00 price target on shares of OneWater Marine in a research note on Friday, March 15.

Get our latest stock report on OneWater Marine

OneWater Marine shares fell 5.2%

Shares of NASDAQ:ONEW opened at $24.52 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.30 and a current ratio of 1.21. The company has a market cap of $392.88 million, a price-to-earnings ratio of -4.30 and a beta of 2.55. The company has a fifty-day moving average of $24.95 and a 200-day moving average of $26.81. OneWater Marine has a 52-week low of $20.07 and a 52-week high of $39.15.

OneWater Marine (NASDAQ:ONEW – Get Free Report) last reported its earnings results on Thursday, May 2. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.05). The company had revenue of $488.32 million for the quarter, compared to the consensus estimate of $500.87 million. OneWater Marine had a negative net margin of 4.29% and a positive return on equity of 9.20%. As a group, research analysts expect OneWater Marine to post earnings per share of 3.44 for the current fiscal year.

Hedge funds weigh heavily on OneWater Marine

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in shares of OneWater Marine in the fourth quarter valued at $29,000. Bank of New York Mellon Corp increased its stake in shares of OneWater Marine by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 92,289 shares of the company’s stock valued at $2,364,000 after acquiring an additional 1,108 shares during the period. SG Americas Securities LLC increased its holdings in OneWater Marine by 27.3% in the fourth quarter. SG Americas Securities LLC now owns 6,297 shares of the company’s stock worth $213,000 after purchasing an additional 1,350 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of OneWater Marine by 319.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,097 shares of the company’s stock worth $71,000 after acquiring an additional 1,597 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of OneWater Marine by 1.0% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 399,030 shares of the company’s stock valued at $13,483,000 after purchasing an additional 3,770 shares during the period. 94.32% of the shares are currently owned by hedge funds and other institutional investors.

About OneWater Marine

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OneWater Marine Inc operates as a recreational boat retailer in the United States. The company offers new and used pleasure boats and yachts, as well as related marine products such as parts and accessories. It provides boat repair and maintenance services. The company also arranges boat financing and insurance; and other ancillary services, including indoor and outdoor storage, and marina services.

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Analyst Recommendations for OneWater Marine (NASDAQ:ONEW)



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