Zacks Investment Research downgraded shares of OneWater Marine (NASDAQ:ONEW) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “OneWater Marine Inc. is premium recreational boat retailers principally in the United States. It offers products and services which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services and ancillary services. OneWater Marine Inc. is based in Buford, Georgia. “

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus started coverage on shares of OneWater Marine in a report on Monday, March 1st. They set a buy rating and a $42.00 target price for the company. Robert W. Baird upped their price objective on shares of OneWater Marine from $36.00 to $40.00 and gave the company an outperform rating in a report on Monday, February 8th. Truist upped their price objective on shares of OneWater Marine from $36.00 to $40.00 in a report on Wednesday, January 27th. KeyCorp assumed coverage on shares of OneWater Marine in a research report on Tuesday, March 9th. They issued an overweight rating and a $43.00 target price on the stock. Finally, Raymond James upped their target price on shares of OneWater Marine from $41.00 to $48.00 and gave the company an outperform rating in a research report on Monday, March 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. OneWater Marine presently has a consensus rating of Buy and an average price target of $36.57.

OneWater Marine stock opened at $41.37 on Wednesday. OneWater Marine has a 52-week low of $6.50 and a 52-week high of $44.50. The firm has a market capitalization of $619.52 million and a price-to-earnings ratio of -0.91. The company has a fifty day simple moving average of $38.84 and a 200-day simple moving average of $29.79. The company has a quick ratio of 0.55, a current ratio of 1.36 and a debt-to-equity ratio of 0.47.

OneWater Marine (NASDAQ:ONEW) last released its earnings results on Thursday, February 4th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.60. OneWater Marine had a net margin of 1.57% and a return on equity of 13.20%. The business had revenue of $214.08 million during the quarter, compared to analyst estimates of $183.26 million. On average, research analysts anticipate that OneWater Marine will post 3.89 EPS for the current fiscal year.

In other news, Director Mitchell W. Legler sold 1,500 shares of the stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $40.27, for a total transaction of $60,405.00. Following the sale, the director now owns 65,799 shares of the company’s stock, valued at $2,649,725.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Troiano sold 7,224 shares of the stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $36.41, for a total transaction of $263,025.84. Following the sale, the director now directly owns 6,250 shares in the company, valued at approximately $227,562.50. The disclosure for this sale can be found here. Insiders sold 28,724 shares of company stock worth $1,046,831 in the last ninety days.

Several institutional investors and hedge funds have recently modified their holdings of ONEW. Steward Partners Investment Advisory LLC acquired a new stake in shares of OneWater Marine during the fourth quarter worth about $29,000. Citigroup Inc. lifted its position in shares of OneWater Marine by 533.1% during the fourth quarter. Citigroup Inc. now owns 1,608 shares of the company’s stock worth $47,000 after purchasing an additional 1,354 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of OneWater Marine during the fourth quarter worth about $49,000. Strs Ohio acquired a new stake in OneWater Marine in the third quarter valued at approximately $98,000. Finally, State of Tennessee Treasury Department acquired a new stake in OneWater Marine in the third quarter valued at approximately $131,000. 50.14% of the stock is currently owned by institutional investors and hedge funds.

OneWater Marine Company Profile

OneWater Marine Inc operates as a recreational boat retailer in the United States. It offers new and pre-owned recreational boats and yachts, as well as related marine products, such as parts and accessories. The company also provides boat repair and maintenance services; 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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