OneWater Marine Inc. (NASDAQ:ONEW) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of OneWater Marine Inc. (NASDAQ:ONEW) have received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $31.25.

A number of equities research analysts have recently commented on ONEW shares. Benchmark reiterated a “hold” rating on shares of OneWater Marine in a research report on Wednesday, July 31st. KeyCorp reduced their target price on shares of OneWater Marine from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st.

Insider Buying and Selling

In other news, Director Jeffrey B. Lamkin acquired 30,919 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $22.27 per share, for a total transaction of $688,566.13. Following the completion of the transaction, the director now owns 56,705 shares in the company, valued at approximately $1,262,820.35. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Philip Austin Jr. Singleton purchased 15,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $22.31 per share, for a total transaction of $334,650.00. Following the completion of the transaction, the chief executive officer now directly owns 605,183 shares in the company, valued at approximately $13,501,632.73. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey B. Lamkin purchased 30,919 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of $22.27 per share, with a total value of $688,566.13. Following the completion of the transaction, the director now owns 56,705 shares of the company’s stock, valued at approximately $1,262,820.35. The trade was a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 87,329 shares of company stock worth $1,936,799. Insiders own 18.70% of the company’s stock.

Institutional Investors Weigh In On OneWater Marine

A number of institutional investors have recently made changes to their positions in ONEW. SG Americas Securities LLC acquired a new stake in shares of OneWater Marine during the third quarter valued at about $119,000. SageView Advisory Group LLC acquired a new stake in shares of OneWater Marine during the first quarter valued at about $322,000. Rhumbline Advisers increased its position in shares of OneWater Marine by 5.4% during the second quarter. Rhumbline Advisers now owns 19,253 shares of the company’s stock valued at $531,000 after acquiring an additional 994 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of OneWater Marine by 6.5% during the second quarter. Bank of New York Mellon Corp now owns 74,792 shares of the company’s stock valued at $2,062,000 after acquiring an additional 4,539 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of OneWater Marine by 1.1% in the second quarter. Sei Investments Co. now owns 190,182 shares of the company’s stock valued at $5,243,000 after purchasing an additional 2,124 shares during the period. 94.32% of the stock is currently owned by institutional investors and hedge funds.

OneWater Marine Stock Performance

ONEW opened at $21.13 on Wednesday. The firm’s fifty day simple moving average is $23.07 and its two-hundred day simple moving average is $25.11. The company has a market cap of $339.35 million, a price-to-earnings ratio of -3.69 and a beta of 2.57. The company has a quick ratio of 0.35, a current ratio of 1.29 and a debt-to-equity ratio of 1.04. OneWater Marine has a 52-week low of $20.00 and a 52-week high of $35.86.

OneWater Marine (NASDAQ:ONEW) last issued its earnings results on Tuesday, July 30th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($1.01). The business had revenue of $542.44 million during the quarter, compared to analyst estimates of $600.20 million. OneWater Marine had a negative net margin of 5.16% and a positive return on equity of 6.60%. During the same quarter last year, the company earned $1.95 earnings per share. Equities analysts anticipate that OneWater Marine will post 1.48 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.