OneWater Marine (NASDAQ:ONEW) Releases Earnings Results, Misses Expectations By $0.05 EPS

OneWater Marine (NASDAQ:ONEW) released its earnings results on Thursday. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.05), MarketWatch Earnings reports. OneWater Marine had a net margin of 4.19% and a return on equity of 16.52%. During the same period in the prior year, the business posted $1.28 earnings per share. OneWater Marine updated its FY 2024 guidance to $3.25-$3.75 EPS.

OneWater Marine Stock Performance

Shares of ONEW opened at $25.55 on Friday. The business’s fifty day simple moving average is $24.42 and its two-hundred day simple moving average is $28.70. The company has a current ratio of 1.26, a quick ratio of 0.37 and a debt-to-equity ratio of 0.83. OneWater Marine has a 12 month low of $21.78 and a 12 month high of $39.15. The company has a market cap of $403.43 million, a price-to-earnings ratio of 4.73 and a beta of 2.52.

Insider Buying and Selling at OneWater Marine

In other news, CEO Philip Austin Jr. Singleton purchased 2,378 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were purchased at an average cost of $25.47 per share, for a total transaction of $60,567.66. Following the purchase, the chief executive officer now directly owns 580,183 shares in the company, valued at approximately $14,777,261.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 20.40% of the company’s stock.

Institutional Investors Weigh In On OneWater Marine

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of OneWater Marine by 4.0% during the second quarter. BlackRock Inc. now owns 810,660 shares of the company’s stock valued at $29,378,000 after acquiring an additional 31,524 shares in the last quarter. Vanguard Group Inc. increased its position in shares of OneWater Marine by 9.9% during the first quarter. Vanguard Group Inc. now owns 546,326 shares of the company’s stock worth $18,820,000 after purchasing an additional 49,084 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of OneWater Marine by 2.6% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 270,450 shares of the company’s stock worth $7,564,000 after purchasing an additional 6,980 shares in the last quarter. NBW Capital LLC grew its holdings in shares of OneWater Marine by 13.2% during the fourth quarter. NBW Capital LLC now owns 264,652 shares of the company’s stock valued at $7,569,000 after buying an additional 30,938 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of OneWater Marine by 16.4% during the second quarter. State Street Corp now owns 249,820 shares of the company’s stock valued at $8,257,000 after buying an additional 35,200 shares during the last quarter. 63.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ONEW. KeyCorp decreased their target price on OneWater Marine from $36.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday. Robert W. Baird decreased their target price on OneWater Marine from $42.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Finally, Truist Financial decreased their target price on OneWater Marine from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, OneWater Marine currently has an average rating of “Moderate Buy” and an average target price of $32.00.

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 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.