Robert W. Baird Reiterates “Neutral” Rating for OneWater Marine (NASDAQ:ONEW)

OneWater Marine (NASDAQ:ONEW)‘s stock had its “neutral” rating restated by analysts at Robert W. Baird in a report released on Friday, Marketbeat Ratings reports. They presently have a $18.00 price objective on the stock, down from their prior price objective of $25.00. Robert W. Baird’s price target suggests a potential upside of 30.53% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ONEW. KeyCorp dropped their target price on shares of OneWater Marine from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus cut their price objective on OneWater Marine from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, Truist Financial decreased their target price on OneWater Marine from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

OneWater Marine Trading Down 9.6 %

NASDAQ:ONEW opened at $13.79 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.25 and a debt-to-equity ratio of 1.08. OneWater Marine has a 1-year low of $12.77 and a 1-year high of $31.36. The firm has a market capitalization of $224.96 million, a price-to-earnings ratio of -19.15 and a beta of 2.33. The business’s 50-day moving average price is $17.34 and its two-hundred day moving average price is $19.43.

OneWater Marine (NASDAQ:ONEW) last released its quarterly earnings data on Thursday, January 30th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.30. OneWater Marine had a positive return on equity of 3.09% and a negative net margin of 0.59%. On average, equities analysts expect that OneWater Marine will post 1.57 earnings per share for the current year.

Insider Activity at OneWater Marine

In other OneWater Marine news, CEO Philip Austin Jr. Singleton purchased 15,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $15.40 per share, for a total transaction of $231,000.00. Following the completion of the transaction, the chief executive officer now owns 682,368 shares in the company, valued at approximately $10,508,467.20. This represents a 2.25 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 20.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OneWater Marine

A number of hedge funds have recently added to or reduced their stakes in ONEW. BNP Paribas Financial Markets bought a new position in shares of OneWater Marine in the fourth quarter worth $29,000. FMR LLC lifted its holdings in shares of OneWater Marine by 332.5% during the 3rd quarter. FMR LLC now owns 4,308 shares of the company’s stock worth $103,000 after acquiring an additional 3,312 shares during the period. Wells Fargo & Company MN increased its stake in OneWater Marine by 27.0% in the fourth quarter. Wells Fargo & Company MN now owns 7,194 shares of the company’s stock valued at $125,000 after acquiring an additional 1,529 shares during the last quarter. AlphaQuest LLC bought a new position in OneWater Marine in the fourth quarter valued at approximately $158,000. Finally, Raymond James Financial Inc. acquired a new position in OneWater Marine during the fourth quarter valued at approximately $199,000. Institutional investors own 94.32% of the company’s stock.

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.