OneWater Marine Inc. (NASDAQ:ONEW) Receives $31.60 Average Price Target from Brokerages

OneWater Marine Inc. (NASDAQ:ONEW) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $31.60.

ONEW has been the topic of a number of recent research reports. DA Davidson reaffirmed a “neutral” rating and set a $27.00 price objective on shares of OneWater Marine in a report on Friday, March 15th. Truist Financial decreased their price target on OneWater Marine from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. KeyCorp reduced their price objective on OneWater Marine from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, Stifel Nicolaus increased their price objective on shares of OneWater Marine from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONEW. Breach Inlet Capital Management LLC bought a new position in OneWater Marine in the fourth quarter valued at $8,781,000. Private Management Group Inc. lifted its stake in OneWater Marine by 13.3% in the third quarter. Private Management Group Inc. now owns 589,661 shares of the company’s stock valued at $15,107,000 after acquiring an additional 69,411 shares during the last quarter. Premier Fund Managers Ltd bought a new position in shares of OneWater Marine in the 4th quarter valued at about $621,000. Russell Investments Group Ltd. increased its stake in shares of OneWater Marine by 17.2% during the 4th quarter. Russell Investments Group Ltd. now owns 112,831 shares of the company’s stock worth $3,813,000 after purchasing an additional 16,528 shares during the last quarter. Finally, MTM Investment Management LLC bought a new stake in shares of OneWater Marine in the 4th quarter valued at about $217,000. 94.32% of the stock is owned by institutional investors and hedge funds.

OneWater Marine Price Performance

NASDAQ:ONEW opened at $22.57 on Friday. The company has a market capitalization of $360.44 million, a price-to-earnings ratio of -3.96 and a beta of 2.55. The company has a 50-day moving average of $24.93 and a 200-day moving average of $26.62. OneWater Marine has a 52 week low of $20.07 and a 52 week high of $39.15. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.26 and a current ratio of 1.27.

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 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.