OneWater Marine (NASDAQ:ONEW – Get Rating) had its price objective dropped by stock analysts at Raymond James from $55.00 to $40.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Raymond James' price objective suggests a potential upside of 35.36% from the company's current price.
A number of other brokerages have also issued reports on ONEW. Stifel Nicolaus dropped their target price on shares of OneWater Marine from $45.00 to $42.00 in a research report on Thursday, October 20th. DA Davidson cut their price target on OneWater Marine from $35.00 to $33.00 in a report on Friday, November 18th.
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Shares of ONEW opened at $29.55 on Friday. The company has a quick ratio of 0.43, a current ratio of 1.25 and a debt-to-equity ratio of 0.95. OneWater Marine has a 12 month low of $27.10 and a 12 month high of $54.54. The company's fifty day moving average is $30.36 and its 200-day moving average is $33.29. The firm has a market cap of $464.82 million, a price-to-earnings ratio of 3.56 and a beta of 2.43.
OneWater Marine (NASDAQ:ONEW – Get Rating) last released its quarterly earnings results on Tuesday, November 15th. The company reported $1.28 EPS for the quarter, missing analysts' consensus estimates of $1.61 by ($0.33). The firm had revenue of $397.52 million during the quarter, compared to the consensus estimate of $404.57 million. OneWater Marine had a net margin of 6.75% and a return on equity of 29.53%. Equities analysts expect that OneWater Marine will post 9.14 EPS for the current fiscal year.Insiders Place Their Bets
In related news, CEO Philip Austin Jr. Singleton acquired 3,435 shares of the firm's stock in a transaction on Monday, December 19th. The shares were purchased at an average price of $30.44 per share, with a total value of $104,561.40. Following the acquisition, the chief executive officer now directly owns 535,305 shares in the company, valued at $16,294,684.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have acquired 10,381 shares of company stock valued at $322,788. 20.40% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On OneWater Marine
Several hedge funds have recently added to or reduced their stakes in the company. MTM Investment Management LLC grew its position in shares of OneWater Marine by 4.7% during the 3rd quarter. MTM Investment Management LLC now owns 6,915 shares of the company's stock worth $208,000 after buying an additional 312 shares during the period. Bank of New York Mellon Corp raised its stake in OneWater Marine by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 69,089 shares of the company's stock worth $2,379,000 after buying an additional 718 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of OneWater Marine in the first quarter worth about $25,000. Nuveen Asset Management LLC lifted its holdings in shares of OneWater Marine by 2.0% during the 3rd quarter. Nuveen Asset Management LLC now owns 37,721 shares of the company's stock valued at $1,135,000 after purchasing an additional 749 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of OneWater Marine by 15.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,920 shares of the company's stock valued at $196,000 after purchasing an additional 780 shares during the period. Institutional investors own 57.11% of the company's stock.
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 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.
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