OneWater Marine (NASDAQ:ONEW) Receives “Hold” Rating from Benchmark

Benchmark reiterated their hold rating on shares of OneWater Marine (NASDAQ:ONEW) in a report issued on Wednesday, Benzinga reports.

Separately, KeyCorp lowered their target price on OneWater Marine from $34.00 to $30.00 and set an overweight rating for the company in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $31.40.

OneWater Marine Stock Down 4.1 %

ONEW stock opened at $24.68 on Wednesday. The company has a market cap of $395.37 million, a PE ratio of -4.33 and a beta of 2.58. The business has a 50-day simple moving average of $27.35 and a 200 day simple moving average of $26.21. OneWater Marine has a 52 week low of $20.07 and a 52 week high of $38.21. The company has a quick ratio of 0.30, a current ratio of 1.21 and a debt-to-equity ratio of 1.07.

OneWater Marine (NASDAQ:ONEW) last posted its quarterly 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 company 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 6.63%. During the same period last year, the firm earned $1.95 EPS. Sell-side analysts anticipate that OneWater Marine will post 3.23 EPS for the current fiscal year.

Institutional Trading of OneWater Marine

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Private Management Group Inc. boosted its holdings in OneWater Marine by 3.7% in the fourth quarter. Private Management Group Inc. now owns 611,736 shares of the company’s stock valued at $20,671,000 after acquiring an additional 22,075 shares during the last quarter. Vanguard Group Inc. boosted its holdings in OneWater Marine by 2.0% in the first quarter. Vanguard Group Inc. now owns 581,355 shares of the company’s stock valued at $16,365,000 after acquiring an additional 11,227 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of OneWater Marine by 1.0% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 399,030 shares of the company’s stock worth $13,483,000 after purchasing an additional 3,770 shares during the period. Breach Inlet Capital Management LLC acquired a new position in shares of OneWater Marine during the fourth quarter worth approximately $8,781,000. Finally, NBW Capital LLC raised its position in shares of OneWater Marine by 1.6% during the first quarter. NBW Capital LLC now owns 253,079 shares of the company’s stock worth $7,124,000 after purchasing an additional 4,100 shares during the period. 94.32% of the stock is currently owned by institutional investors.

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 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.