OneWater Marine (NASDAQ:ONEW) PT Raised to $30.00

OneWater Marine (NASDAQ:ONEW) had its price objective raised by investment analysts at Truist Financial from $28.00 to $30.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 15.21% from the company’s current price.

Other research analysts also recently issued reports about the stock. Robert W. Baird reduced their price objective on shares of OneWater Marine from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. KeyCorp cut their target price on shares of OneWater Marine from $36.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.40.

OneWater Marine Stock Up 1.9 %

Shares of NASDAQ ONEW traded up $0.49 during midday trading on Friday, reaching $26.04. 21,741 shares of the company’s stock were exchanged, compared to its average volume of 95,580. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.37 and a current ratio of 1.26. OneWater Marine has a 52-week low of $21.78 and a 52-week high of $39.15. The business’s fifty day moving average price is $24.42 and its two-hundred day moving average price is $28.70. The stock has a market capitalization of $411.17 million, a PE ratio of 4.82 and a beta of 2.52.

OneWater Marine (NASDAQ:ONEW) last posted its quarterly earnings data on Thursday, November 16th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.05). OneWater Marine had a return on equity of 16.52% and a net margin of 4.19%. The business had revenue of $450.98 million for the quarter, compared to analysts’ expectations of $424.23 million. During the same quarter in the prior year, the firm earned $1.28 earnings per share. Analysts forecast that OneWater Marine will post 4.58 EPS for the current year.

Insiders Place Their Bets

In other OneWater Marine news, CEO Philip Austin Jr. Singleton bought 2,378 shares of the company’s stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $25.47 per share, with a total value of $60,567.66. Following the completion of the acquisition, the chief executive officer now owns 580,183 shares of the company’s stock, valued at $14,777,261.01. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 20.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OneWater Marine

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James & Associates lifted its holdings in shares of OneWater Marine by 130.6% in the 1st quarter. Raymond James & Associates now owns 14,855 shares of the company’s stock worth $512,000 after purchasing an additional 8,414 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in OneWater Marine by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 69,089 shares of the company’s stock valued at $2,379,000 after buying an additional 718 shares during the last quarter. MetLife Investment Management LLC lifted its stake in OneWater Marine by 65.0% in the first quarter. MetLife Investment Management LLC now owns 6,012 shares of the company’s stock valued at $207,000 after buying an additional 2,368 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of OneWater Marine by 34.8% during the first quarter. Rhumbline Advisers now owns 10,341 shares of the company’s stock valued at $356,000 after acquiring an additional 2,669 shares during the period. Finally, BlackRock Inc. grew its position in shares of OneWater Marine by 2.9% during the first quarter. BlackRock Inc. now owns 686,029 shares of the company’s stock worth $23,633,000 after acquiring an additional 19,590 shares during the last quarter. 63.98% of the stock is currently owned by institutional investors and hedge funds.

About OneWater Marine

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 also 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, as well as rental of boats and personal watercraft.