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OneWater Marine (ONEW) Gains But Lags Market: What You Should Know

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OneWater Marine (ONEW - Free Report) closed at $31.51 in the latest trading session, marking a +0.38% move from the prior day. The stock lagged the S&P 500's daily gain of 0.43%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 0.2%.

Coming into today, shares of the company had lost 34.67% in the past month. In that same time, the Consumer Discretionary sector lost 0.22%, while the S&P 500 gained 3.69%.

OneWater Marine will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.06, up 12.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $407.6 million, up 23.66% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.32 per share and revenue of $1.69 billion. These totals would mark changes of +19.54% and +37.89%, respectively, from last year.

Any recent changes to analyst estimates for OneWater Marine should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. OneWater Marine currently has a Zacks Rank of #2 (Buy).

Digging into valuation, OneWater Marine currently has a Forward P/E ratio of 3.77. This valuation marks a discount compared to its industry's average Forward P/E of 9.86.

The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 36% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ONEW in the coming trading sessions, be sure to utilize Zacks.com.


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