OneWater Marine (NASDAQ:ONEW – Get Free Report) issued its earnings results on Thursday. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.05), MarketWatch Earnings reports. OneWater Marine had a return on equity of 16.52% and a net margin of 4.19%. During the same quarter in the previous year, the firm earned $1.28 earnings per share. OneWater Marine updated its FY 2024 guidance to $3.25-$3.75 EPS.
OneWater Marine Stock Up 1.3 %
ONEW stock traded up $0.34 during mid-day trading on Friday, hitting $25.89. The stock had a trading volume of 7,768 shares, compared to its average volume of 95,523. The company has a current ratio of 1.26, a quick ratio of 0.37 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $408.80 million, a price-to-earnings ratio of 4.79 and a beta of 2.52. The company has a fifty day moving average of $24.42 and a 200 day moving average of $28.70. OneWater Marine has a 1-year low of $21.78 and a 1-year high of $39.15.
Analyst Ratings Changes
ONEW has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on shares of OneWater Marine from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th. Robert W. Baird dropped their price target on shares of OneWater Marine from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Finally, KeyCorp reduced their price target on OneWater Marine from $36.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.
Insider Activity at OneWater Marine
In other OneWater Marine news, CEO Philip Austin Jr. Singleton purchased 2,378 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average cost of $25.47 per share, with a total value of $60,567.66. Following the acquisition, the chief executive officer now directly owns 580,183 shares of the company’s stock, valued at approximately $14,777,261.01. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 20.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On OneWater Marine
Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of OneWater Marine by 11.6% during the 3rd quarter. Royal Bank of Canada now owns 11,883 shares of the company’s stock worth $304,000 after purchasing an additional 1,237 shares in the last quarter. Sei Investments Co. increased its stake in OneWater Marine by 5.9% in the third quarter. Sei Investments Co. now owns 209,730 shares of the company’s stock valued at $5,373,000 after acquiring an additional 11,649 shares during the last quarter. Legal & General Group Plc boosted its position in OneWater Marine by 140.3% during the third quarter. Legal & General Group Plc now owns 2,581 shares of the company’s stock valued at $66,000 after buying an additional 1,507 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of OneWater Marine by 39.4% during the third quarter. Ameriprise Financial Inc. now owns 44,165 shares of the company’s stock worth $1,132,000 after purchasing an additional 12,486 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in OneWater Marine by 5.0% in the third quarter. AQR Capital Management LLC now owns 8,719 shares of the company’s stock worth $223,000 after buying an additional 415 shares during the period. 63.98% of the stock is currently owned by institutional investors.
About OneWater Marine
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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