OneWater Marine (NASDAQ:ONEW) Stock Rating Upgraded by Zacks Investment Research

OneWater Marine (NASDAQ:ONEW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm presently has a $63.00 price objective on the stock. Zacks Investment Research‘s price target suggests a potential upside of 17.91% from the stock’s previous close.

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. “

Several other brokerages have also recently weighed in on ONEW. Raymond James dropped their target price on OneWater Marine from $68.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 30th. Truist increased their target price on OneWater Marine from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 19th. KeyCorp increased their target price on OneWater Marine from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 19th. Wolfe Research started coverage on OneWater Marine in a report on Thursday, September 30th. They set an “outperform” rating and a $45.00 target price for the company. Finally, Robert W. Baird upgraded OneWater Marine to an “outperform” rating and increased their target price for the company from $60.00 to $70.00 in a report on Friday, November 19th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, OneWater Marine currently has a consensus rating of “Buy” and an average price target of $57.88.

ONEW opened at $53.43 on Wednesday. The stock has a 50-day moving average price of $44.39 and a 200-day moving average price of $44.82. OneWater Marine has a 12-month low of $26.33 and a 12-month high of $56.78. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $803.53 million, a P/E ratio of 9.18 and a beta of 3.59.

OneWater Marine (NASDAQ:ONEW) last posted its quarterly earnings data on Thursday, November 18th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.17. OneWater Marine had a return on equity of 34.54% and a net margin of 5.31%. During the same period in the previous year, the company posted $0.90 earnings per share. On average, equities research analysts predict that OneWater Marine will post 6.77 EPS for the current year.

In other news, COO Anthony M. Aisquith sold 8,662 shares of the stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $55.00, for a total value of $476,410.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Philip Austin Jr. Singleton sold 3,213 shares of the stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $55.00, for a total value of $176,715.00. The disclosure for this sale can be found here. Insiders have sold a total of 82,259 shares of company stock valued at $4,258,010 in the last ninety days. 24.63% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Koshinski Asset Management Inc. purchased a new stake in shares of OneWater Marine in the 3rd quarter worth approximately $35,000. New York State Teachers Retirement System purchased a new stake in shares of OneWater Marine in the 3rd quarter worth approximately $36,000. Legal & General Group Plc grew its stake in shares of OneWater Marine by 30.3% in the 2nd quarter. Legal & General Group Plc now owns 1,410 shares of the company’s stock worth $59,000 after buying an additional 328 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of OneWater Marine by 200.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,500 shares of the company’s stock worth $63,000 after buying an additional 1,000 shares during the last quarter. Finally, Islay Capital Management LLC purchased a new stake in shares of OneWater Marine in the 2nd quarter worth approximately $88,000. Institutional investors own 71.04% of the company’s stock.

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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