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

OneWater Marine (NASDAQ:ONEW) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. KeyCorp reduced their price target on shares of OneWater Marine from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, November 14th. Benchmark reiterated a “hold” rating on shares of OneWater Marine in a research report on Friday, November 14th. Truist Financial boosted their price target on shares of OneWater Marine from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of OneWater Marine in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.00.

OneWater Marine Price Performance

Shares of OneWater Marine stock traded up $0.33 during trading on Monday, hitting $13.53. 61,898 shares of the stock traded hands, compared to its average volume of 193,811. The stock has a market cap of $223.57 million, a price-to-earnings ratio of -1.91 and a beta of 1.64. The company has a quick ratio of 0.28, a current ratio of 1.14 and a debt-to-equity ratio of 1.17. OneWater Marine has a 52 week low of $10.14 and a 52 week high of $21.00. The firm’s fifty day moving average is $11.98 and its 200-day moving average is $14.38.

Hedge Funds Weigh In On OneWater Marine

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in OneWater Marine by 94.4% in the third quarter. BNP Paribas Financial Markets now owns 2,872 shares of the company’s stock worth $45,000 after purchasing an additional 1,395 shares during the period. AlphaQuest LLC boosted its holdings in shares of OneWater Marine by 20.8% during the 2nd quarter. AlphaQuest LLC now owns 8,097 shares of the company’s stock valued at $108,000 after buying an additional 1,392 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of OneWater Marine by 50.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,129 shares of the company’s stock worth $129,000 after buying an additional 2,710 shares during the period. Occudo Quantitative Strategies LP bought a new position in shares of OneWater Marine in the 3rd quarter worth about $192,000. Finally, Two Sigma Investments LP purchased a new position in OneWater Marine during the 3rd quarter valued at about $219,000. 94.32% of the stock is owned by institutional investors.

About OneWater Marine

OneWater Marine Inc (NASDAQ: ONEW) is a leading U.S.-based recreational boat retailer offering a comprehensive range of marine products and services. Since its public debut in 2018, the company has built a broad network of locations that serve both coastal and inland markets. OneWater Marine focuses on delivering a full-service customer experience, from initial boat selection to long-term maintenance and support.

Through its dealership network, OneWater Marine markets new and pre-owned powerboats and personal watercraft from top manufacturers.