Truist Financial Has Lowered Expectations for OneWater Marine (NASDAQ:ONEW) Stock Price

OneWater Marine (NASDAQ:ONEW) had its price target lowered by Truist Financial from $30.00 to $25.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on ONEW. Stifel Nicolaus lowered their price objective on shares of OneWater Marine from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Benchmark reiterated a “hold” rating on shares of OneWater Marine in a research note on Friday, November 15th. DA Davidson cut their price objective on OneWater Marine from $27.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Finally, KeyCorp lowered their target price on OneWater Marine from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.25.

OneWater Marine Stock Performance

Shares of OneWater Marine stock opened at $15.78 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 0.35 and a debt-to-equity ratio of 1.06. The company has a market cap of $256.52 million, a PE ratio of -39.45 and a beta of 2.58. The company has a 50 day moving average of $20.33 and a 200-day moving average of $22.80. OneWater Marine has a 1-year low of $15.35 and a 1-year high of $31.59.

Insiders Place Their Bets

In related news, CEO Philip Austin Jr. Singleton bought 13,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $18.60 per share, for a total transaction of $241,800.00. Following the transaction, the chief executive officer now directly owns 667,368 shares of the company’s stock, valued at approximately $12,413,044.80. The trade was a 1.99 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Steven Roy purchased 2,500 shares of OneWater Marine stock in a transaction on Wednesday, November 20th. The stock was bought at an average price of $19.05 per share, with a total value of $47,625.00. Following the completion of the acquisition, the director now directly owns 20,760 shares of the company’s stock, valued at approximately $395,478. This trade represents a 13.69 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 28,485 shares of company stock worth $543,089. Corporate insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On OneWater Marine

Institutional investors have recently modified their holdings of the company. FMR LLC raised its holdings in shares of OneWater Marine by 332.5% in the 3rd quarter. FMR LLC now owns 4,308 shares of the company’s stock worth $103,000 after acquiring an additional 3,312 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of OneWater Marine in the third quarter worth approximately $119,000. Bfsg LLC lifted its holdings in shares of OneWater Marine by 12.2% in the third quarter. Bfsg LLC now owns 5,186 shares of the company’s stock valued at $124,000 after purchasing an additional 565 shares in the last quarter. Barclays PLC boosted its position in shares of OneWater Marine by 267.9% during the third quarter. Barclays PLC now owns 15,677 shares of the company’s stock valued at $375,000 after buying an additional 11,416 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in OneWater Marine by 5.4% during the second quarter. Rhumbline Advisers now owns 19,253 shares of the company’s stock worth $531,000 after buying an additional 994 shares in the last quarter. 94.32% of the stock is owned by institutional investors and hedge funds.

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 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 services.