Analysts Set OneWater Marine Inc. (NASDAQ:ONEW) Target Price at $31.60

OneWater Marine Inc. (NASDAQ:ONEW) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $31.60.

Several equities analysts recently issued reports on the company. Benchmark assumed coverage on OneWater Marine in a report on Wednesday, May 22nd. They set a “hold” rating for the company. DA Davidson reaffirmed a “neutral” rating and set a $27.00 price objective on shares of OneWater Marine in a report on Friday, March 15th. Finally, KeyCorp reduced their price objective on OneWater Marine from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, May 3rd.

OneWater Marine Trading Up 1.5 %

Shares of ONEW stock opened at $27.57 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.30 and a debt-to-equity ratio of 1.07. OneWater Marine has a twelve month low of $20.07 and a twelve month high of $39.15. The company has a market capitalization of $441.67 million, a P/E ratio of -4.84 and a beta of 2.58. The business’s 50 day moving average is $25.72 and its two-hundred day moving average is $26.98.

OneWater Marine (NASDAQ:ONEW) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.05). OneWater Marine had a negative net margin of 4.29% and a positive return on equity of 9.20%. The business had revenue of $488.32 million during the quarter, compared to analysts’ expectations of $500.87 million. Equities analysts forecast that OneWater Marine will post 3.44 EPS for the current year.

Hedge Funds Weigh In On OneWater Marine

Several large investors have recently added to or reduced their stakes in ONEW. GAMMA Investing LLC purchased a new position in OneWater Marine during the fourth quarter worth about $29,000. Tower Research Capital LLC TRC raised its holdings in shares of OneWater Marine by 319.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,097 shares of the company’s stock worth $71,000 after purchasing an additional 1,597 shares during the period. Bfsg LLC purchased a new position in shares of OneWater Marine in the 4th quarter worth about $171,000. SG Americas Securities LLC raised its holdings in shares of OneWater Marine by 27.3% in the 4th 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 during the period. Finally, MTM Investment Management LLC purchased a new position in shares of OneWater Marine in the 4th quarter worth about $217,000. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

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.