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

OneWater Marine (NASDAQ:ONEW) announced its quarterly earnings data on Thursday. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate 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 last 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 Up 1.3 %

NASDAQ:ONEW opened at $25.87 on Friday. 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 1-year low of $21.78 and a 1-year high of $39.15. The business’s fifty day moving average price is $24.42 and its 200 day moving average price is $28.70. The firm has a market capitalization of $408.49 million, a price-to-earnings ratio of 4.73 and a beta of 2.52.

Insiders Place Their Bets

In other news, CEO Philip Austin Jr. Singleton bought 2,378 shares of the company’s stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $25.47 per share, with a total value of $60,567.66. Following the transaction, the chief executive officer now directly owns 580,183 shares in the company, valued at approximately $14,777,261.01. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 20.40% of the company’s stock.

Institutional Trading of OneWater Marine

Several large investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in OneWater Marine by 5.0% in the 3rd quarter. AQR Capital Management LLC now owns 8,719 shares of the company’s stock valued at $223,000 after acquiring an additional 415 shares in the last quarter. State of Wyoming raised its holdings in OneWater Marine by 12.6% in the 2nd quarter. State of Wyoming now owns 3,735 shares of the company’s stock valued at $135,000 after acquiring an additional 418 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in OneWater Marine by 1.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 30,679 shares of the company’s stock valued at $1,112,000 after acquiring an additional 482 shares in the last quarter. Rhumbline Advisers raised its holdings in OneWater Marine by 3.6% in the 3rd quarter. Rhumbline Advisers now owns 17,975 shares of the company’s stock valued at $461,000 after acquiring an additional 618 shares in the last quarter. Finally, Capital Impact Advisors LLC raised its holdings in OneWater Marine by 3.7% in the 4th quarter. Capital Impact Advisors LLC now owns 18,555 shares of the company’s stock valued at $531,000 after acquiring an additional 663 shares in the last quarter. Institutional investors own 63.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Truist Financial cut their price objective on OneWater Marine from $32.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. KeyCorp cut their price objective on OneWater Marine from $36.00 to $32.00 and set an “overweight” rating for the company in a report on Friday. Finally, Robert W. Baird cut their price objective on OneWater Marine from $42.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.00.

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.