OneWater Marine Inc. (NASDAQ:ONEW) Given Average Rating of “Hold” by Brokerages

OneWater Marine Inc. (NASDAQ:ONEW) has earned an average recommendation of “Hold” from the eight analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $19.00.

Several research analysts have recently weighed in on ONEW shares. KeyCorp dropped their target price on shares of OneWater Marine from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OneWater Marine in a research report on Wednesday, October 8th. Zacks Research lowered OneWater Marine from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 28th. Truist Financial lifted their target price on OneWater Marine from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Benchmark reaffirmed a “hold” rating on shares of OneWater Marine in a report on Friday, November 14th.

OneWater Marine Trading Up 1.9%

Shares of ONEW opened at $13.17 on Friday. The business’s 50-day moving average price is $12.08 and its 200 day moving average price is $14.38. The company has a current ratio of 1.14, a quick ratio of 0.28 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $217.70 million, a P/E ratio of -1.86 and a beta of 1.64. OneWater Marine has a 1-year low of $10.14 and a 1-year high of $21.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in shares of OneWater Marine by 94.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,872 shares of the company’s stock worth $45,000 after buying an additional 1,395 shares during the period. AlphaQuest LLC boosted its stake in OneWater Marine by 20.8% during the 2nd quarter. AlphaQuest LLC now owns 8,097 shares of the company’s stock worth $108,000 after acquiring an additional 1,392 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in OneWater Marine by 50.0% during the third quarter. JPMorgan Chase & Co. now owns 8,129 shares of the company’s stock valued at $129,000 after purchasing an additional 2,710 shares during the period. Occudo Quantitative Strategies LP acquired a new position in OneWater Marine during the third quarter valued at approximately $192,000. Finally, Two Sigma Investments LP bought a new stake in OneWater Marine in the third quarter valued at approximately $219,000. 94.32% of the stock is currently owned by institutional investors.

OneWater Marine Company Profile

OneWater Marine Inc (NASDAQ: ONEW) is a leading U.S.-based recreational boat retailer offering a comprehensive range of marine products and services. Since its public debut in 2018, the company has built a broad network of locations that serve both coastal and inland markets. OneWater Marine focuses on delivering a full-service customer experience, from initial boat selection to long-term maintenance and support.

Through its dealership network, OneWater Marine markets new and pre-owned powerboats and personal watercraft from top manufacturers.